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Volkswagen keeps outlook, says Porsche IPO on track

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Reuters UK

By Victoria Waldersee BERLIN (Reuters) -Volkswagen said it expected to reach the upper end of its 7%-8.5% operating margin goal for the year on Thursday, as supply chain bottlenecks in items from wire harnesses to chips eased, and confirmed plans to list its Porsche brand this year. The carmaker, which saw deliveries drop a fifth in the first half, still expected them to rise overall by 5% to 10% this year but likely on the lower end of that range, chief financial officer Arno Antlitz said. Volkswagen shares rose 2% in early Frankfurt trade following its second quarter results, as the carmaker…

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