ISSN 2330-717X

Luxury Automaker BMW Posts 51% Profit Jump In 2011

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Germany luxury automaker BMW says its profits jumped by 51 percent last year to euro4.9 billion ($6.43 billion), AP reported.

The result compares to euro3.24 billion from the year before. Sales rose 14 percent to euro68.82 billion.

The company said Thursday, March 8, it would raise its dividend to euro2.30 per share from euro1.30. CEONorbert Reithofer said BMW “set new records in unit sales, revenue and profit and more than reached our goals.”

BMW and competitors Daimler AG and Volkswagen AG have seen big profits from export sales thanks to an economic recovery in the United States and strong demand from China and other emerging markets.

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