Stockholm — Volvo Group, the second-biggest truck maker, on Friday posted stronger than expected profits for the third quarter, with net profit more than doubling thanks to robust demand. CEO Martin Lundstedt said the group had registered growth across the board, noting a 32% increase in truck orders and a 45% increase in construction equipment orders. The Swedish group’s net profit for the July-September period rose to 5.5-billion kroner ($673m) from 2.6-billion kroner in the same period a year ago. "It’s the strongest third quarter ever registered," Lundstedt told Swedish news agency TT. The price of the Volvo share soared on the news, gaining 6.3% in midday trading several hours after the report was released, in a market up 0.92%. Sales climbed by 12%, to 77.2-billion kroner, while operating profit surged by 57%, to 7.4-billion kroner. Analysts had forecast an operating profit of 6.5-billion kroner. Volvo said it expected demand to remain high in 2018, including for the truck mar...
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