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BMW CEO foresees record profit in 2006

Thursday, March 16, 2006

German luxury car maker Bayerische Motoren Werke AG said yesterday it expects to drive to record profit again this year, as a result of higher unit sales, even if currency effects and high raw material costs remained big imponderables.BMW said it was pencilling in pretax profit of €4-billion ($5.57-billion) this year, up from €3.28-billion in 2005. Included in that figure will be a one-off gain of €350-million from the reduction of BMW's stake in British engine maker Rolls-Royce PLC. BMW (Frankfurt) rose 97 euro cents ($1.35) to €42.93. AFP

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