Mercedes sales boost Daimler profits

GERMAN car maker Daimler AG says net profit rose 53 per cent in the third quarter, helped by stronger performance from its luxury brand, Mercedes-Benz.

Net income rose to 1.90 billion euros ($A2.74 billion) from 1.24 billion euros in the same period a year ago. Revenue rose 5 per cent to 30.1 billion euros.

The company on Thursday credited an expanded range of compact cars that helped boost sales. Mercedes sold 8 per cent more cars in the period and raised its operating earnings by 23 per cent to 1.20 billion euros.

CEO Dieter Zetsche said in a statement that “this shows the high investments we have made were money well spent.”

Recommended news articles:

Flongle wants to change the way people apply for home loans.

The home loan game-changer?

Crows coach Brenton Sanderson has been sacked.

Crows sack Sanderson as coach

H

Brit back in Thai murder probe

No wonder he’s happy. North Korean leader Kim Jong-un will be pleased by a glowing human rights report, created by his own government.

North Korea’s glowing report card to itself

News