Global truck maker Volvo posted a surprise rise in core earnings on Friday and said it expected industry-wide heavy-duty truck sales to be flat in Europe next year while further growth was forecast for the resurgent North American market.
Volvo, Sweden's biggest company by sales and top private sector employer, said operating profit excluding restructuring charges rose to 2.91 billion Swedish crowns ($401 million) from a year-ago 2.50 billion, beating a mean forecast of 2.07 billion in Reuters poll of analysts.