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Volvo beats forecast, sticks to growth outlook

From Reuters| July 22 , 2010 14:16 BJT

World number two truck maker Volvo posted second quarter earnings on Thursday above expectations and stuck to its forecast of further growth in its European and North American markets this year.

The company, recovering strongly after the global downturn slashed demand, reported a pretax profit of 4.5 billion crowns ($607.5 million), well ahead of the mean forecast in a Reuters poll of 3.4 billion crowns.

It stuck to its forecast of European market growth this year of about 10 percent and for North America to grow about 20 to 30 percent.

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