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Volvo Reports 3Q Profit

Volvo reported a 58% rise in sales of construction equipment to 12.71 billion kronor and said the division continued to generate growth and profitability.

October 22, 2010

Swedish truck maker AB Volvo on Friday swung to a third-quarter net profit and maintained its 2010 truck-market growth forecast for heavy-duty trucks in North America.

The world's second-largest truck maker by sales behind Germany's Daimler AG said net profit for the quarter was 2.81 billion Swedish kronor ($421.2 million), compared with a net loss of 2.92 billion kronor in the same period a year earlier. Sales rose 32% to 64 billion kronor from 48.5 billion kronor, beating market expectations.

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--Wall Street Journal

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