Swedish truck maker AB Volvo says profit in the second quarter of 2014 increased by 21% on the back of cost savings, efficiency schemes and streamlined production.
Net profit in the April to June period jumped to 2.5 billion kronor ($365 million) from 2.1 billion a year earlier. Sales were marginally down at 72.6 billion kronor compared with 72.8 billion kronor the same period last year reports the Associated Press (AP).
In a statement to AP, Volvo Trucks chief executive officer Olof Persson says that truck sales have developed particularly well in North America and Japan with increased market shares during the quarter, but that was offset by declines in South American and the sluggish European market.
He says ongoing restructuring schemes and an efficiency program launched last year are working as planned for the Goteborg-based company.
Volvo truck sales in New Zealand remain strong according to Volvo Truck and Bus New Zealand national sales manager Clive Jones, 159 units were delivered to customers at the end of June 2014, an increase on the 124 units delivered in the previous corresponding period in 2013.
“Deliveries from the factory are flowing well,” says Jones. “We still have a strong intake of orders, and new units for customers are now booked for delivery well into the middle of 2015.”
