Daimler profits hit record 29% riseFebruary 9, 2012 - 17:49 AMT PanARMENIAN.Net - German car and truck maker Daimler has said it achieved record sales and profits in 2011. The company, which owns Mercedes-Benz, reported a 29% rise in net profits to 6.029bn euros ($8bn). Underlying profit, measured as earnings before interest and tax, rose 20% to 8.755bn euros, on revenues up 9% to 106.5bn euros. Vehicle sales rose 11% to 2.11 million, with Daimler saying that Mercedes had "never performed better than in 2011". "We achieved our best-ever results in 2011 for unit sales, revenue... and net profit. All of our divisions contributed to this success," said Daimler chief executive Dieter Zetsche. In the fourth quarter alone, net profit soared 57% to 1.785bn euros and revenues climbed 10% to 29.066bn euros. Daimler said that it expected sales to "increase again significantly this year and that revenue will also continue to grow," driven by emerging markets. However, the company warned that the eurozone debt crisis would weigh on the European car market, which it expects to remain flat in 2012, BBC News reported. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |