Truck maker Volvo posts Q4 profit

[February 04, 2011]  STOCKHOLM (AP) -- Swedish truck maker AB Volvo reports a profit for the fourth quarter, bouncing back mainly from a jump in sales.

Friday's report showed a net profit of 3.2 billion kronor ($500 million) in the quarter, compared with a previous loss of almost 2 billion kronor in the same three months a year ago.

Sales soared for the Goteborg-headquartered group in the period, reaching 73.4 billion kronor, up sharply from 59.8 billion kronor a year earlier.

Volvo has around 90,000 full-time staff and also makes buses, engines and construction equipment. It sold its car division to U.S.-based Ford Motor Co. in 1999, which in turn sold it to China's Geely Holding Group last year.

[Associated Press]

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.