Porsche on track for record year

2012-10-25 19:11

BERLIN, Germany - German luxury automaker Porsche reports that it is on target for another record year in 2012 after increasing both sales and profits in the first nine months.

Porsche said in a statement its operating profit rose by 22.0% to R21-billion from January to September 2012.

Revenues increased by 28.1% to R115-billion, due to a  20.2% increase in sales to 103 245 models.

Porsche finance chief Lutz Meschke said: "In the first nine months, we've already attained almost the entire profit from 2011 and are therefore expecting this year to sharply exceed last year's records in operating profit, revenues and unit sales."