July 25, 2019 / 5:46 AM / a month ago

VW H1 operating profit up 10% on higher VW, Porsche sales

FRANKFURT, July 25 (Reuters) - Volkswagen Group on Thursday said its first half operating profit rose 10.3% to 9 billion euros ($10.02 billion), buoyed by sales of higher-margin sports utility vehicles and a jump in demand for Porsche vehicles.

Higher demand for VW, Porsche and Skoda cars helped to offset a drop in Audi sales, the carmaker said.

Volkswagen confirmed its outlook for the year and said its operating return on sales rose to 7.2%, up from 6.8% in the year-earlier period.

$1 = 0.8982 euros Reporting by Edward Taylor Editing by Michelle Martin

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