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Business

DaimlerChrysler Steers Back into Profit

German-US auto giant DaimlerChrysler said Thursday it steered its bottom line back into profit in both the third quarter and the first nine months of this year, thanks to the turnaround at its US unit Chrysler and strong sales in its trucks division. DaimlerChrysler said in a statement it booked bottom-line net profit of €1 billion ($1.27 billion) in the period from July to September, compared with net loss of 1.7 billion euros a year earlier. The car maker was also back in the black for the first nine months, swinging to net profit of 1.9 billion euros from a loss of €1 billion in the period from January to September 2003. Operating profit was up seven percent to €1.3 billion in the third quarter and rose by 51 percent to €5 billion in the first nine months. Sales grew by two percent to €34.89 billion in the period from July to September and were up three percent to €104.3 billion in the January-September period, DaimlerChrysler said. (AFP)