Ferrari's Fourth-Quarter Profits Plunge
February 02 2016 - 11:50AM
Dow Jones News
Ferrari NV Tuesday reported a steep drop in fourth-quarter net
profit and gave a muted outlook for 2016, underlining the difficult
road ahead for the super sports car maker as it looks to go it
alone.
Ferrari, which was spun off from Fiat Chrysler Automobiles NV
last month, said it earned a net profit of €55 million ($59.7
million) in the final three months of 2015, a 44% drop on the year.
Sales fell 1% to €744 million. The numbers are slight adjustments
to preliminary figures Ferrari released last week.
The company said it sees sales rising 1.6% this year. It will
pay a dividend of €0.46 a share for a total payout of €87
million.
Write to Eric Sylvers at eric.sylvers@wsj.com
(END) Dow Jones Newswires
February 02, 2016 11:35 ET (16:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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