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Lamborghini's profit accelerates

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Lamborghini's profit accelerates

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In the midst of the recession there were mixed results from luxury sports car maker Lamborghini.

Its sales last year were virtually flat, but it managed to post a 27.4 percent rise in pretax profit to 60 million euros thanks to cost cutting moves. The company, which is owned by Germany’s Volkswagen, is predicting another profit this year despite the global economic crisis. Chief Executive Stephan Winkelmann said he expects sales to decline this year but not by as much as those for the luxury car market in general. Lamborghini did sell a third fewer cars in the first quarter of this year and has been sending a third of its staff home during temporary shutdowns of its main plant.