The Wall Street Journal-20080206-MAN AG- More Gains Forecast After 33- Profit Jump

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MAN AG: More Gains Forecast After 33% Profit Jump

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MAN AG posted a 33% increase in fourth-quarter net profit, fueled by strong demand for its trucks, and forecast that earnings will continue to rise this year. The Munich, Germany-based maker of trucks, buses, diesel engines and turbo machinery said net rose to 331 million euros ($490.8 million) in the quarter from 248 million euros the year earlier. Revenue rose 35% to 5.23 billion euros for the period. It said its order intake, a key gauge of future business, rose 11% in the quarter to 5.07 billion euros. MAN last year abandoned a 10.3 billion euro bid for Swedish rival Scania AB after major Scania shareholders Volkswagen AG and Investor AB rejected the offer. MAN has since said it is interested in a friendly partnership with Scania. In Frankfurt trading, MAN shares fell 8.2% or 7.24 euros, to 81.40 euros.