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STOCKHOLM, April 25 (Reuters) - Sweden’s Volvo posted a much bigger than expected rise in first-quarter core earnings on Tuesday as robust demand and years of cost trimming bolstered turnover and profitability at the truck maker.
Volvo also raised its forecast for long-depressed demand for construction equipment in China but left unchanged its outlook for truck markets on both sides of the North Atlantic.
Adjusted operating profit at Volvo rose to 7.03 billion Swedish crowns ($793 million) from a year-ago 4.46 billion, beating the mean forecast of 5.32 billion in a poll of analysts. ($1 = 8.8688 Swedish crowns) (Reporting by Niklas Pollard and Johannes Hellstrom)