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Daimler sales set record
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December 28, 1999: 8:27 a.m. ET
Carmaker’s revenue climbed 12% in 1999; profit grew even faster
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LONDON (CNNfn) - DaimlerChrysler shrugged off continuing doubts over its post-merger performance by posting record full-year revenue Tuesday.
The auto and aerospace firm said 1999 revenue increased 12 percent to about 148 billion euros ($150 billion) and operating profit grew even faster.
The data helped DaimlerChrysler (FDCX) shares gain 2.3 percent to 74.90 euros in Frankfurt Tuesday, having peaked at 75.30 earlier in the session.
The company is scheduled to release detailed figures Feb. 28, but the preliminary numbers revealed that vehicle sales climbed 7 percent to 4.8 million units from 4.5 million a year earlier. "Nearly all of our vehicle brands reached all-time highs,” co-chairman Jurgen Schrempp said.
Mercedes-Benz passenger vehicle revenue climbed 13 percent to 37 billion euros while unit sales rose 16 percent during the year. Sales of Chrysler products advanced 12 percent to 63 billion euros, though unit sales climbed just 3.2 percent. Truck sales rose 10 percent.
DaimlerChrysler Aerospace revenue advanced just 2.3 percent to 9 billion euros.
The company also said its latest reorganization in November had improved corporate flexibility, though many observers viewed it as a shift of power toward the company’s German-based executives. 
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DaimlerChrysler
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