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Volkswagen 2010 Profit Soars

Automaker says its 2010 net profit rose to $9.4 billion from $1.3 billion a year earlier as revenue climbed by more than 20 percent.

BERLIN (AP) -- Volkswagen AG says its 2010 net profit rose to euro6.84 billion ($9.4 billion) from euro960 million a year earlier as revenue climbed by more than 20 percent.

Europe's largest automobile maker said Friday that the combined revenue for the group -- which also includes brands such as Audi, Skoda or Seat -- was up to euro126.9 billion in 2010 from euro105.2 billion the previous year, leading to an operating profit of euro7.1 billion.

CEO Martin Winterkorn says the company in 2010 left the economic crisis fully behind and enjoyed "the best year in the history of the Volkswagen Group."

Volkswagen says in its statement that it expects revenue and operating profit in 2011 to top its 2010 results. The company did not publish fourth-quarter figures -- those are due in its full earnings report on March 10.

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