Volvo profits down
7th September 1989, Page 14
7th September 1989
Page 14
Page 14, 7th September 1989
— Volvo profits down
Close
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.
If you've noticed an error in this article please click here to report it so we can fix it.
• Volvo has turned in a disappointing set of secondquarter results, showing an 8% decline in profits to £218 million. First-half profits are up slightly from £368.2m to £411.8m.
President Gunnar Johanssen attributes the fall to the increased cost of product development, compounded by problems in Sweden with absenteeism and high employee turnover.
The trucks division achieved a 19% growth in first half sales to £1.2 billion and an increased market share in Western Europe and the US. Second quarter truck sales rose by 13%; bus sales were up by 5%.
Tags
People:
Gunnar Johanssen