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Porsche profits up despite weak turnover

dpa logodpa 28/10/2016

German car maker Porsche has posted a 12 per cent rise in profits despite stagnating turnover.

German car maker Porsche has posted a sharp rise in profits, underlining the key role the Stuttgart-based company plays in the Volkswagen group's earnings.

Operating profits rose 12 per cent to 2.9 billion euros ($A4.17 billion) in the nine months to the end of September, compared with the same period in 2015, despite stagnating turnover, Porsche said on Friday.

The number of deliveries climbed three per cent to 178,314 vehicles in the nine months under review, it said.

However, nine-month turnover slipped to 16.470 billion euros from 16.471 a year earlier, said Porsche, which is one of the VW group's 12 stable of brands.

Porsche finance chief Lutz Meschke said the results showed the company remained one of the world's most profitable automotive manufacturers.

"As a result of this, we are able to cover the costs of investments for the future in the fields of electromobility, digitalisation and connectivity", he said.

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