The Czech Republic's largest automaker, Volkswagen- owned Skoda Auto, reported a record net profit of 15.98 billion koruny (995.2 million dollars), an increase of 44.5 per cent, the company said Thursday. ( dpa )
Turnover grew 9 per cent to 222 billion koruny on the back of rising sales. Skoda sold 630,032 vehicles in 2007, an increase of nearly 15 per cent from the previous year.
"We had to offset several negative factors. Above all I can name further significant appreciation of koruna to euro, wage growth and the development on the commodity markets, especially considering steel and synthetics," Chief Financial Officer Holger Kintscher said in a written statement.
The company is the Czech Republic's main exporter, whose sales have grown significantly in eastern Europe and Asia. The carmaker's market share in western Europe, where it sold 327,222 cars, rose to 2.2 per cent.
Skoda's largest national market is Germany where 2007 sales rose by 8.2 per cent to 112,452 autos.