German top-of-the-range carmaker BMW said on Tuesday it was confident it would be able to achieve record sales and earnings again this year following a bumper year in 2011.
"The BMW group is confident about the current financial year after a record year in 2011," said chief executive Norbert Reithofer.
"We are targeting new highs in sales volume and pre-tax earnings for 2012."
As already reported last week, BMW booked net profit of 4.907 billion euros ($6.5 billion) in 2011, an increase of 51.3 percent year-on-year, and pre-tax profit rose by 52.1 percent to 7.383 billion euros.
Unit sales were up 14.2 percent at 1.669 million vehicles, pushing up revenues by 13.8 percent to 68.821 billion euros.
"This is the best start to any year we have had," Reithofer told a news conference.
The carmaker said it expected the operating profit margin in its core automotive division to come out "at the upper end of our 8.0-10.0 percent target range" in 2012 compared with 11.8 percent in 2011 if the strong sales growth the group notched up in January and February continued.
That disappointed investors and BMW shares down slightly by 0.08 percent at 70.99 euros on the Frankfurt stock exchange on a generally firmer market.
Source: http://news.yahoo.com/bmw-targets-record-sales-earnings-2012-102458990.html
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