Truckmaker Volvo profit tops forecast

Truckmaker Volvo profit tops forecast

Swedish truckmaker AB Volvo reported fourth-quarter core earnings above analysts' expectations on Wednesday, raised its forecasts for some of its main markets and rolled out a hefty shareholder payout.

FILE PHOTO: IAA truck show in Hanover
FILE PHOTO: The logo of Swedish truck maker Volvo is pictured at the IAA truck show in Hanover, September 22, 2016. REUTERS/Fabian Bimmer

STOCKHOLM: Swedish truckmaker AB Volvo reported fourth-quarter core earnings above analysts' expectations on Wednesday, raised its forecasts for some of its main markets and rolled out a hefty shareholder payout.

Adjusted operating profit at the maker of trucks, construction equipment, buses and engines rose to 10.93 billion Swedish crowns (US$1.30 billion) from 9.22 billion a year earlier, well above the 8.77 billion seen by analysts according to Refinitiv data.

(Reporting by Niklas Pollard; editing by Johannes Hellstrom)

Source: Reuters

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