Economics
MAN SE Profit Tumbles as European Truck Demand Declines
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MAN SE, Europe’s third-largest maker of commercial vehicles, reported a 67 percent plunge in second-quarter profit, burdened by extra costs for a power-plant project and declining demand for trucks in the region.
Operating profit fell to 72 million euros ($95 million) from 219 million euros a year earlier, the Munich-based company said today in a statement. Revenue rose 3.6 percent to 3.99 billion euros, while orders increased 0.6 percent.