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Mercedes car profits help lift Daimler Q3, offsetting trucks slump
[FRANKFURT] Daimler's third-quarter operating profit rose as higher earnings from passenger cars offset falling demand for trucks, helping the group to keep to its guidance for a small increase in full-year profit.
Earnings before interest and tax (Ebit), adjusted for special items, climbed to 4.01 billion euros (S$6.072 billion) in the three months through September, above the 3.8 billion euros forecast in a Reuters poll.
The Stuttgart-based company said the return on sales at Mercedes-Benz Cars rose to 11.4 per cent, from 10.4 per cent in the year-earlier period, thanks to sales of the new E-class.
Daimler stuck with its forecast for adjusted full-year group Ebit to slightly beat 2015 levels.