Volvo Cars posts rise in fourth-quarter profit, helped by cost cuts and sales growth

STOCKHOLM (Reuters) - Sweden's Volvo Car Group, owned by China's Geely, reported an 18% rise in fourth-quarter operating profit as cost cuts and growing sales more than offset the impact of subdued global auto markets.The Gothenburg-based carmaker, which Geely acquired from Ford Motor Co in 2010, reported operating earnings of 5.29 billion Swedish crowns (£425.4 million) as revenues rose 8.4% to 79.2 billion. Sales of Volvos rose nearly 10% in 2019 - with growth of 23.4% in the fourth..