Financial Report Financial reports from the largest companies of the world

BMW turned on profit

The German car giant BMW has announced a profit of 323 million for the first quarter after the same period last year had suffered a loss of 153 million. The company has managed to achieve 8 percent growth in revenue to 12.4 billion. This gives reason to expect strong performance this year, announced by BMW, transmit Market Watch. Division to produce cars reported profit before tax and interest amounting to 291 million compared with a loss of 251 million euros a year earlier. Revenue jumped to his hand 11 per cent to 10.67 billion. After the return of BMW shares rose 2.4 percent to 36.82 euros on the number of stock exchange in Frankfurt. The company reported high increase of sales of new cars in Asia, which brought the good financial result. The world economy is recovering from mortgage, insurance, banking and credit crisis, so last months we got thousands of positive financial results for the first quarter of the year. The automotive industry was mostly supported by governments all over the world, but even this was not enough for some companies to bankrupt.
Such companies like GM, Saab and Hummer reported bankruptcy in the beginning of the year and stopped working.