February 6, 2020 / 6:16 AM / in 18 days

Geely's Volvo posts 18% rise in Q4 profit

STOCKHOLM, Feb 6 (Reuters) - Sweden’s Volvo Car Group, owned by China’s Geely, reported an 18% rise in fourth-quarter operating profit as cost cuts and growing sales more than offset the impact of subdued global auto markets.

The Gothenburg-based carmaker, acquired by Geely from Ford Motor Co back in 2010, reported operating earnings of 5.29 billion Swedish crowns as revenues rose 8.4% to 79.2 billion. (Reporting by Johannes Hellstrom; editin by Johan Ahlander)

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