Germany: VW lifts profit, to pay dividend

German carmaker Volkswagen says after-tax profits rose 21 percent for last year, to e11.1 billion (R145bn). The maker of Volkswagen, Audi, Skoda and SEAT brand cars said on Friday that it increased its profit margins during the year and proposed to increase its dividend to shareholders. But it offered a cautious outlook for 2015, citing a “persistently challenging market environment”. It said sales would increase by at least 4 percent, “depending on economic conditions”. It said economic trends in Latin America and Eastern Europe could affect its commercial vehicles and power engineering businesses. Sales revenue rose 2.8 percent last year to e202.5bn. Volkswagen said it would raise its dividend to e4.80 per ordinary share, up from e4.00 in 2013. – Sapa-AP