Swedish truckmaker Volvo zooms past profit estimate

Truckmaker Volvo’s (VOLVb.ST) quarterly profit topped market expectations on Friday, driven by bullish demand for trucks and construction equipment, and it forecast strong demand in its main markets for next year.
FILE PHOTO: The logo of Swedish truck maker Volvo is pictured at the IAA truck show in Hanover, September 22, 2016. REUTERS/Fabian Bimmer/File Photo
Adjusted operating profit for the third quarter jumped to 10.25 billion Swedish crowns (867.50 million pounds), coming in ahead of the 9.59 billion forecast in a Reuters poll of analysts and topping the 6.95 billion reported a year ago.
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The Swedish company also hiked its demand forecast for the European truck market for the current year and forecast higher demand for the North America truck market for next year.