Porsche reports 18.3% operating return in first nine months, confirms forecast

Porsche reports 18.3% operating return in first nine months, confirms forecast

Porsche reports 18.3% operating return in first nine months, confirms forecastWORLDMiddle EastAfricaIndian Sub-continentChina and Asia Pacific UK and EuropeAmericasRussiaECONOMYGlobalGCCAfricaLevantNorth AfricaISLAMIC ECONOMYIslamic FinanceIslamic BusinessIslamic Finance ReportsIslamic Finance GlossaryBUSINESSAviationBanking & InsuranceCareersEducationEnergyFintechHealthcareHospitalityManufacturingReal EstateRetail & ConsumerTechnology and TelecomTransport and LogisticsTravel and TourismSMEsFinance MarketingTechnologyLegalPeopleMARKETSCommoditiesCurrenciesEquitiesFixed IncomeWEALTHAlternative InvestmentsFundsWealth ManagementSustainabilityLEGALCrime and SecurityImmigrationPolicy RegulationsLIFECultureEntertainmentFoodHealthLeisure & TravelSportsOPINIONBusiness InsightsPROJECTSBRIConstructionIndustryMiningOil & GasUtilitiesSPECIAL COVERAGERamadan and Eid 2023COP 28: Talking Climate in UAEUAE Realty MarketThe Future of CryptosFocus: Global Wealth FundsRussia-Ukraine CrisisMULTIMEDIAGalleriesVideosPRESS RELEASE Companies NewsGovernment NewsPeople in the NewsResearch & StudiesEvents and ConferencesAfrica Press ReleasesAsia Press ReleasesHome page>WORLD>UK and Europe>Porsche reports 18.3% op...PHOTOPorsche AG reported an operating return on sales of 18.3% in its first nine months on Wednesday, in line with its annual forecast, with operating profit up 9% to 5.5 billion euros ($5.83 billion).The luxury carmaker saw a 12.6% rise in sales revenue to 30.13 billion euros, on a 9.6% rise in deliveries.Porsche confirmed its outlook for 2023 of a 17-19% return on sales of 40 to 42 billion euros and a 20% return on sales in the long term.The company had said in late September it expected to hit those forecasts despite interest rate rises and an uncertain economic outlook in China, causing some instability.($1 = 0.9432 euros) (Reporting by Victoria Waldersee,