Porsche posts bumper profit

Porsche posted the highest profit last year in the German sports-car maker’s 80-year history, powered by sales of the Cayenne sports-utility vehicle and the Panamera sedan. Operating profit rose 22 per cent to €2.05bn (£1.7bn) while revenue increased 18 per cent to €10.9bn, the company said yesterday in an e-mailed statement. Vehicle sales increased 22 per cent to 119,000 units last year with the Cayenne, Porsche’s best-selling model, accounting for about 60,000 cars. Panamera sales rose by a fifth to about 28,000 units.