COPENHAGEN – Sweden’s AB Volvo has posted second-quarter net income of 5.2 billion kronor ($610 million), up from 2.5 billion kronor a year earlier as the truck maker delivered more vehicles in Europe and North America and benefited from a decline in the Swedish currency.
Revenue soared 17 per cent to 84.8 billion kronor ($10 billion), mainly attributable to positive currency effects.
In April, the Goteborg-based group ousted its chief executive and named Martin Lundstedt, top boss at rival Scania AB, to become the new CEO and group president in October.
Acting boss Jan Gurander said Friday the group saw “the efficiency programs we are implementing are developing according to plan, when measured in local currencies.”
He added “all of the group’s truck brands maintained or increased their volumes during the quarter.”