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Porsche Holding posts profit as earnings outweigh book loss

from The Wall Street Journal

Porsche Automobil Holding SE posted a first-quarter profit after tax of €327 million, as earnings worth €1.17 billion from its holdings in Volkswagen AG and the Porsche sports car unit more than offset a €810 million non-cash charge triggered by a revaluation of options. Porsche's holding company reiterated it expects to remain in the black in 2012 despite possible charges through the option revaluation, and confirmed it still aims to forge an integrated company with Volkswagen. more

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