Swedish Volvo posts USD531.38m profit in Q1

(MENAFN) Volvo Group, the multinational manufacturing company headquartered in Gothenburg, posted USD531.38 million operating profit in the first quarter of the year, Reuters reported.

Volvo's primary activity is the production, distribution, sale of trucks and buses, and construction equipment; the company is notorious as Sweden's most thriving firm by profit.

The firm's profit increased to USD531.38 million, up from USD297.33 million recorded last year, beating thus analysts' forecasts.