kscarbel Posted July 31, 2013 Share Posted July 31, 2013 Transport Topics / July 30, 2013European truck maker MAN SE’s second-quarter profit fell 67% on higher costs and declining truck demand.Operating profit fell to about $95 million from about $290 million a year earlier. Revenue rose 3.6% to $5.3 billion, while orders edged up 0.6%. Munich, Germany-based MAN reports its earnings in euros.MAN has scaled back its production as companies hold off on vehicle purchases amid recessions in Europe.VW, which owns 75.03% of MAN’s voting rights, has made an initial offer to MAN shareholders as part of its bid for full control. Investors who don’t accept a cash offer will receive a guaranteed annual dividend of 3.07 euros (about $4) per share.Volkswagen rearranged its truck operations’ management last year after a six-year effort to get MAN and Sweden-based truck manufacturer Scania to work together, Quote Link to comment https://www.bigmacktrucks.com/topic/32134-man%E2%80%99s-2q-profit-drops-on-lower-truck-demand/ Share on other sites More sharing options...
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