Record orders help turbo-charge Ferrari earnings

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Ferrari said record orders and a double-digit boost in deliveries had helped it to a strong performance in the third quarter.

The firm with the prancing horse logo reported a net profit of 207 million euros , an increase of 21 percent from the same period last year.Ferrari delivered 2,750 cars between July and September, an increase of nearly 19 percent from the same period last year and up 11 percent from before the pandemic hit in 2019.

Ferrari chief executive Benedetto Vigna noted"record order intake worldwide, particularly in China and USA," during the quarter. Sales rose by 18.6 percent from the same period last year to 1.05 billion euros. They were up by 15.1 percent from 2019. The company revised higher its outlook for operating earnings to 1.5 billion euros, which would be a substantial increase from the 1.1 billion euros last year and the 1.3 billion in 2019.

 

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