Daimler-Benz Reports Worst Performance Since WWII: Germany’s...
From Times Staff and Wire Reports
Daimler-Benz Reports Worst Performance Since WWII: Germany’s largest industrial group reported a loss of $1.08 billion for 1993, compared to a $791-million profit in 1992. The loss, which is according to U.S. accounting rules that the company adopted when it was listed on the New York Stock Exchange last year, is the group’s worst performance since World War II. The Mercedes-Benz luxury car subsidiary posted an operating loss of $742.2 million, contrasted with a $1.34-billion profit in 1992. Daimler-Benz Chairman Edzard Reuter said the company is expected to have an operating profit this year. He said the group made an operating profit in the first quarter of 1994 and sales rose 15%.
