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News > International
BMW: Record profit in 2000
December 20, 2000: 6:19 a.m. ET

German automaker says sales, profit roar ahead despite sale of Rover
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LONDON (CNNfn) - BMW AG expects vehicle sales and core profit to hit a record in 2000 as revenue growth accelerates to its quickest in a decade.

Joachim Milberg, chairman of the German automaker, told a meeting Tuesday night that earnings before one-time items and taxes will be "not insignificantly better" than the graphic1.29 billion ($1.16 billion) tallied in its record year of 1997, a company spokesman confirmed Wednesday.

BMW, the smallest of Germany' big three automakers, expects to sustain the sales growth rate of 9 percent that it registered in the first 11 months of graphic2000, with some 820,000 vehicles sold.

Sales in 2000 would exceed 1999's level of graphic34.4 billion, despite the sale of the U.K. Rover unit in the spring, said Milberg.

Predicting further growth in sales, spokesman Jrg Dinner said: "We are optimistic about the continued positive development at BMW."

Shares of BMW (FBMW) rose 0.9 percent at graphic35.92 in Frankfurt.

-- from staff and wire reports graphic

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.