January 30, 2020 / 6:34 AM / 20 days ago

Sweden's AB Volvo unveils bumper payout as Q4 profit beats forecast

STOCKHOLM, Jan 30 (Reuters) - Swedish truck maker AB Volvo reported a smaller-than-expected fall in fourth-quarter core earnings on Thursday and unveiled plans for a payout to shareholders that easily beat market expectations.

Operating profit at the maker of trucks, construction equipment, buses and engines fell to 9.2 billion crowns ($969 million) from a year-ago adjusted 10.6 billion, beating an analysts’ mean forecast of 8.4 billion, according to Refinitiv estimates.

$1 = 9.4970 Swedish crowns Reporting by Niklas Pollard; editing by Johannes Hellstrom

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