FRANKFURT -- Porsche said on Tuesday its revenues rose 18 percent to 3.89 billion euros ($4.6 billion) in the nine months to the end of April and forecast a rise in profit for the full year.
Publishing nine-month figures for the first time, the world's most profitable carmaker said unit sales in the first three quarters of its business year rose 13 percent thanks to its new Cayenne SUV, although sales of its 911 and Boxster sportscars slipped 9 percent.
It said profits in the period were higher than a year ago and repeated it was aiming to sell 65,000 cars in the year to the end of July.
"Porsche also expects revenue and profit growth in 2002-03 compared to the previous year, with the company benefiting from its forward-looking currency hedging," it said in a statement.
Porsche has traditionally refused to issue quarterly earnings reports, saying they are of no benefit to shareholders and encourage a short-term business strategy. It continues to report profits only on a half-yearly basis.
But its stock has been one of the worst performers in a weak sector since the start of the year, falling by close to a quarter and underperforming an index of its European peers by 13 percent as investors fret about falling sales of its sports cars and its exposure to the weak U.S. market.