November 3, 2015 / 6:47 AM / 2 years ago

BMW has surprise Q3 profit gain on Europe recovery

BERLIN, Nov 3 (Reuters) - BMW posted a surprise increase in third-quarter operating profit as strong sales in higher-margin core European markets outweighed weak demand in China.

Earnings before interest and tax (EBIT) rose 4.3 percent to 2.354 billion euros ($2.59 billion), in line with the 2.353 billion euro top-end forecast in a Reuters poll.

The world’s biggest luxury carmaker said it still expects a profit margin in the automotive division of 8-10 percent this year, compared with 9.6 percent in 2014, as well as higher sales and pre-tax profit. ($1 = 0.9077 euros) (Reporting by Andreas Cremer; Editing by Kirsti Knolle)

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