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Ferrari says H1 net profit up 10 percent on record sales
September 13, 2012 / 1:41 PM / 5 years ago

Ferrari says H1 net profit up 10 percent on record sales

MILAN (Reuters) - Italian high performance sports car maker Ferrari, a unit of Fiat FIA.MI, said on Thursday its net profit rose 10 percent in the first half, as it registered record revenues and number of cars delivered.

Ferrari said it earned a net profit of 100.8 million euros ($129.9 million), as revenue rose 11.9 percent to 1.20 billion euros. It sold a record 3,664 cars, and had a net cash position of 895 million euros.

Sales in the U.S., its main market, rose 17 percent to 851 cars, and accounted for 23 percent of worldwide sales. Sales in Italy, however, fell by 164 cars to 187 cars in the first half, “as a result of the financial crisis and the introduction of new taxes.”

Reporting by Jennifer Clark

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