AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)

German carmaker BMW said Wednesday it was on track to hit performance targets for 2019 despite "difficult conditions", after the third quarter brought rising sales and profits.

BMW's bottom line swelled 11.5 percent to over 1.5 billion euros ($1.6 billion), lifted by the comparison to 2018's weak third quarter that was weighed down by new emissions tests.

"We are performing at a high level in comparison with our competitors and considering the difficult conditions our business is facing," chief financial officer Nicolas Peter said in a statement.

Chief executive Oliver Zipse said BMW were "well on our way to reaching our targets for the year as a whole."

But bosses' objectives call for pre-tax profit to fall "significantly below" 2018's level over the full year.

Between January and September, the measure fell 35 percent year-on-year.

BMW's profits met forecasts from analysts surveyed by Factset, but it was able to beat expectations on revenue - up 7.9 percent, at 26.7 billion euros - and operating profit, which gained 32.9 percent to reach 2.3 billion.

The group operating margin, closely watched by investors, increased one percentage point, while the automobile division alone added 2.2 points year-on-year.

Zipse told reporters in a conference call that sales were buoyed by ongoing high demand for BMW's flagship X7 SUV.

Over the full nine months, BMW's earnings have been weighed down by 1.4 billion euros of provisions it had to set aside over a European Commission cartel probe.

Copyright Agence France-Presse, 2019

Comments

Comments are closed.