Fiat Industrial lifts outlook after Q2 profit rise

Posted: July 25, 2011

MILAN - Fiat Industrial, the Italian maker of trucks, farm and construction vehicles, has raised its 2011 forecasts after second-quarter profits soared 78 percent on higher sales volumes across all sectors.

Fiat Industrial SpA posted a second-quarter net profit of (euro) 212 million ($304.86 million), compared with (euro) 119 million a year earlier.

Fiat Industrial shares rose 3.3 percent to (euro) 9.28 in Milan trading Monday after the results were released.

The company says it now expects revenues of (euro) 24 billion for the year, up from the (euro) 22 billion predicted earlier, and trading profit above (euro) 1.5 billion, from a maximum of (euro) 1.4 billion.

Fiat Industrial net revenues rose by 10.6 percent in the second quarter to (euro) 6.28 billion (euro) 5.67 billion a year earlier.

Fiat Industrial SpA spun off from Fiat Group earlier this year.

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