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MENAFN - 23/02/2013

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(MENAFN) German automaker Volkswagen AG reported a 41 percent increase in aanual profits in 2012, on higher sales, AP reported.

The group said it made USD28.7 billion net profit last year, up from USDUSD20.32 billion a year earlier.

This was driven in part by an accounting boost from the complex deal that made Porsche one of Volkswagen's 12 brands, the company said.

VW also reported a 21 percent growth in 2012 revenues to USD254.21 billion from USD210.15 billion a year ago.

Last year's vehicle sales increased 12.2 percent to nearly 9.3 million units, boosted by growing demand in North America and Asia, which offset weaker sales in Europe, VW said.

 






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