Volvo reports 5% fall in profits

Swedish truck-maker Volvo saw its second-quarter net profits fall by nearly 5% today, mainly on the back of a fall in sales in Brazil and Europe and higher investment costs related to future products.

Net profit in the three-month period came to 4.86bn (€575.76m), down from the 5.12bn kronor (€606.56m) recorded in the same three months a year ago.