POAHY Porsche Automobile Holding SE (PK)

By William Boston

STUTTGART--Porsche AG, the German sports car maker owned by Volkswagen AG (VOW.XE), Friday reported a 6% increase in net profit to 2.33 billion euros ($2.59 billion) in 2015 business year, but warned that earnings would likely be flat this year.

Porsche executives cautioned investors against "exaggerated expectations" about future profit growth in the context of lower profit margins from growing sales of luxury sport-utility vehicles and heavy investment in new technology. Illustrating this trend, Porsche said its operating-profit margin was flat at 15.8% last year compared with 2014.

"We expect to slightly increase revenue in 2016 and achieve earnings at the level of the previous year," said Chief Finance Officer Lutz Meschke.

Porsche sold 225,121 vehicles last year, an increase of 19%.

Write to William Boston at William.Boston@wsj.com

(END) Dow Jones Newswires

March 11, 2016 04:33 ET (09:33 GMT)

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