Volvo’s improved earnings
Volvo Buses’ earnings have grown, according to its figures for the second quarter of 2014. Net sales in the period increased by 19% to SEK4,775m/£408.3m (Q2 2013: SEK4,008m/£343m). The company delivered 2,194 buses over the three months, compared to 2,050 units in the second quarter of 2013, an increase of 7%. Order intake in the second quarter totalled 2,403 buses, which was 3% higher than the same period last year. Adjusted for currency fluctuations, sales increased by 18%. The business reported an operating income of SEK70m/£6m excluding restructuring charges of SEK6m/£0.5m.