Porsche attributes bumper profits to options trades
Use of derivatives by German car manufacturer Porsche has helped boost the firm's pre-tax earnings from EUR2,110 million in 2005/06 to EUR5,857 million in 2006/07. Earnings from stock option transactions increased the firm's total pre-tax profits for 2006/07 by EUR3,593 million.
The transactions relate to Porsche's stake in fellow German auto manufacturer Volkswagen, which currently stands at 30.6%. But the firm remains tight-lipped about the details of the transactions.
"We have increased our
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