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Volvo Q4 core profit lags forecast
February 5, 2015 / 6:34 AM / 3 years ago

Volvo Q4 core profit lags forecast

STOCKHOLM, Feb 5 (Reuters) - Global truck maker Volvo reported a surprise slight decline in fourth quarter core earnings on Thursday but raised its outlook for truck markets in both Europe and North America and said it would cut more staff in its construction equipment arm.

Sweden’s biggest company by sales and top private sector employer said operating profit excluding provisions and restructuring charges dipped to 3.02 billion crowns ($364.4 million) from a year-ago 3.08 billion, beating a mean forecast of 3.73 billion in Reuters poll of analysts.

$1 = 8.2873 Swedish crowns Reporting by Niklas Pollard and Johannes Hellstrom

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