(Finance) – Profits rising sharply for Volvo. The automaker closed the fourth quarter with a Net income up 82% to SEK 12.05 billion, compared to SEK 6.62 billion a year earlier.
The sales increased by 10% to 148.12 billion crowns. Notably, truck deliveries saw an increase of 4.4% in the quarter, while orders received fell by 8.8%.
The stock is set to close the last session of the week with weakness, marking a decline of 0.09%.
The technical framework of Volvo Car signals a widening of the negative trend line with a descent to the support seen at 21.57 Euros, while on the upside it identifies the resistance area at 21.59. Forecasts are for a possible further decline with the target set at 21.56.