July 28, 2017 / 7:30 AM / a year ago

VW brand restructuring making headway, helped by growing sales

BERLIN, July 28 (Reuters) - Volkswagen said restructuring of its troubled core brand is making headway, helped by strong demand for new models in the United States, Latin America and Russia.

VW’s largest division by sales still expects its operating profit margin to come in at the upper end of its 2.5-to-3.5 percent target range this year, after 1.8 percent last year, it said on Friday. The first-half margin stood at 4.5 percent.

Operating profit for the January-to-June period doubled to 1.8 billion euros ($2.1 billion), VW said, benefiting from cost cuts agreed with labour unions, streamlined model development and restructuring of overseas operations.

$1 = 0.8548 euros Reporting by Andreas Cremer; Editing by Maria Sheahan

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