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Eyeing IPO, Volvo cars posts record results, top pre-pandemic levels
Sweden-based Volvo said on Friday it made a first-half profit of 13.24 billion Swedish crowns ($1.52 billion), more than double its profit of 5.52 billion crowns in the corresponding period of 2019 Volvo Cars had been heavily affected at the start of the pandemic, plunging to a 989 million loss in the first half of 2020 Reuters
Updated Jul 25, 2021, 9:23 AM IST
Volvo Cars reported a return to profit in the first half as demand for electric cars pushed earnings above pre-pandemic levels, putting the carmaker on a firmer footing as it considers a possible IPO this year.
Volvo Cars earnings top pre-pandemic levels in boost ahead of possible IPO msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Geelyâs Volvo Cars swings to profit in first-half
STOCKHOLM (Reuters) â Volvo Cars, owned by Chinaâs Geely Holding, said on Friday it returned to profit in the January-June period, as it recovered from the market plunge due to the initial coronavirus pandemic.
The Swedish carmaker reported operating earnings of 13.24 billion crowns ($1.5 billion) versus a loss of 989 million a year earlier, when results were heavily affected by the pandemic.
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Eyeing IPO, Geely s Volvo Cars swings to profit in H1 - Netscape Money & Business netscape.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from netscape.com Daily Mail and Mail on Sunday newspapers.