Business

Mercedes-Benz sales boost Daimler profits

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Image caption The firm said that results were due to strong sales in all its major markets

German luxury car maker Daimler has unveiled a fourth-quarter net profit of 1.14bn euros ($1.54bn; £959m) against a loss of 352m euros at the same time a year ago.

For the full year, the company reported a net profit of 4.7bn euros against a loss of 2.6bn euros in 2009.

The firm said that results were due to strong sales in all its major markets.

Daimler predicted further gains in earnings this year on better sales of its luxury Mercedes-Benz brand.

"Daimler managed an excellent comeback last year," chairman Dieter Zetsche said in a statement. "Our goal now is to maintain the level we have reached over the long term and to further improve it wherever possible."

Earnings were also boosted by special items such as the sale of a stake in Tata Motors, which added 265m euros to income.

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