Volkswagen says Q1 net profit nearly doubles to euro473 million

Wednesday, April 21, 2010

BERLIN (AP) - Volkswagen AG says its first-quarter profit has nearly doubled on an uptick in sales that improved in markets in Europe, China and North America.

The auto company that is Europe's biggest by sales earned euro473 million (US$637.9 million) in the January-March period compared with euro243 million a year earlier.

Volkswagen, whose brands include Audi, Skoda and Seat, among others, said its sales rose more than 19 percent to euro28.6 billion in the first quarter compared with nearly euro24 billion the year before. 211153 apr 10GMT

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