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Truckmaker Volvo's losses increase

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Truckmaker Volvo's losses increase

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Swedish lorry maker Volvo made a bigger than expected loss in the fourth-quarter.

The world’s second largest truck company said its operating loss was 224 million euros more than twice the amount it lost in the same period a year earlier.

Volvo blamed restructuring costs and writedowns on the value of inventory, but said its main markets would return to growth this year.