Ferrari raises 2016 forecast as sports car sales boost profit
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Milan
FERRARI NV raised forecasts for 2016 after sales of new sports cars helped profit jump 11 per cent in the first quarter, the Italian manufacturer's first as an independent company.
Adjusted earnings before interest, taxes, depreciation and amortisation will total at least 800 million euros (S$1.2 billion), Ferrari said on Monday in a statement. That compares with an earlier forecast of at least 770 million euros. First-quarter earnings on that basis rose to 178 million euros.
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