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Porsche SE expects to swing back to profit in 2016

Reuters

STUTTGART (Reuters) - Porsche SE (PSHG_p.DE), Volkswagen's (VW) majority shareholder, expects to swing back to profit this year after VW's historic 2015 loss inflicted a deficit on the investment firm.

The family-controlled holding company that owns 52.2 percent of VW's common shares expects a net profit of between 1.4 billion euros (1.09 billion pounds) and 2.4 billion euros, after posting a 273 million euro loss in 2015, it said on Friday.

Porsche SE said VW still had considerable potential for value improvement and reaffirmed its commitment to the role of VW's majority shareholder.

(Reporting by Ilona Wissenbach; Writing by Andreas Cremer; Editing by Maria Sheahan)