August 1, 2018 / 6:34 AM / a year ago

Volkswagen posts consensus-beating underlying Q2 profit

WOLFSBURG, Germany, Aug 1 (Reuters) - German carmaker Volkswagen posted a forecast-beating 23 percent rise in underlying second-quarter operating profit on Wednesday, even as difficulties conforming to a new anti-pollution rules continue to cause a slowdown in passenger car sales.

Operating profit before special items rose to 5.58 billion euros, compared with analyst consensus for 4.98 billion in a Reuters poll.

The group affirmed its guidance for the full year, but Chief Executive Herbert Diess warned that major efforts lie ahead in the coming months, especially in connection with the Worldwide Harmonized Light Duty Vehicles Test Procedure (WLTP), a new anti-pollution test.

Reporting by Jan Schwartz; Writing by Edward Taylor and Maria Sheahan Editing by Victoria Bryan

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