By Natalia Drozdiak
FRANKFURT--German holding company Porsche Automotiv Holding SE
(PAH3.XE) said Wednesday its net profit grew in the first half of
the year due to gains on its investments in Volkswagen AG
(VOW.XE).
Net profit rose to 1.74 billion euros ($2.33 billion) from
EUR1.47 billion the year earlier.
The automobile holding company, set up in 2007, owns 50.7% of
Volkswagen's ordinary shares. In turn, Volkswagen since 2012 has
controlled the car-making operations of the Porsche brand through
Porsche AG, a separate company.
The holding company confirmed its full-year profit outlook of
between EUR2.2 billion and EUR2.7 billion.
Write to Natalia Drozdiak at natalia.drozdiak@dowjones.com
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