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BMW unsure on profits

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BMW unsure on profits

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BMW says it cannot predict what profit it might make this year.

The world’s biggest premium car maker called 2009 a transition year during which industry sales will drop as much as 20 percent and so a reliable earnings outlook is impossible. Instead BMW said it will focus on managing its finances to ensure its independence. Last week BMW shocked investors with a fourth quarter operating loss of 718 million euros due to some one-off charges.