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Lamborghini 2008 profit up 27 pct on cost-cutting

Wed Apr 15, 2009 1:30pm IST
 
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* Pretax profit up 27.4 pct to 60 mln eur on near-flat sales

* Company aims for overall profit in 2009

* CEO says expects sales to decline less than overall sector

* No plans for permanent job cuts

By Gilles Castonguay

MILAN, April 15 (Reuters) - Lamborghini's drive to cut costs helped it post a 27.4 percent rise in pretax profit on virtually flat sales in 2008, and the luxury sports car maker aimed to post another profit this year despite the global crisis.

"The overall target for the 2009 financial year is to attain an overall profit," the Italian division of Volkswagen AG's (VOWG.DE: Quote, Profile, Research) Audi brand said in a statement on Wednesday without giving a specific forecast.

Chief Executive Stephan Winkelmann told Reuters in a phone interview that he expected sales to decline this year but not as much as those for the luxury car market in general, as wealthy car lovers postponed making big purchases.   Continued...

Construction workers work at a site as the sun sets in Chandigarh in this December 2006 file photo. REUTERS/Ajay Verma
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