// IP Marketing video - START// IP Marketing video - END

BMW earnings drop 28% over higher costs for investments

BMW earnings drop 28% over higher costs for investments

PanARMENIAN.Net - German luxury automaker BMW AG says earnings fell 28 percent in the second quarter due to higher costs for investments in new technology, and after a large one-time plus from the year-ago quarter affected the comparison, AP said.

Net profit fell to €1.28 billion ($1.57 billion) from €1.77 billion a year ago. Sales rose 7 percent to €19.2 billion.

The company said Wednesday that higher costs for new technologies, vehicle development and personnel played a role in the earnings decrease. It also said that the previous year's quarter had seen record earnings boosted by €464 million in one-time additions to earnings.

The company reported record sales of 475,000 vehicles and said its profit margins remained at a strong 11.6 percent.

 Top stories
“The two sides are currently preparing the required infrastructure for boosting natural gas exchange,” NIGEC chief Alireza Kameli said.
Sargsyan said fingerprints of some 1.5 million potential voters will have to be collected which requires a lot of work.
The country’s foreign trade turnover increased by 6.8% in January – May, compared with figures registered in the same period in 2015.
Foreign trade turnover amounted to $1.46 billion in the first four months of 2016, growing by 4,2% against the same period in 2016.
Partner news