Volkswagen's underlying profit fell less than expected in the first quarter as demand for upmarket Audi and Porsche models helped to offset a hit to VW sales from its emissions test cheating scandal.Europe's biggest carmaker said on Tuesday operating profit before one-off items fell 5.9 percent to 3.1 billion euros ($3.5 billion) on a 3.4 percent drop in sales revenues.
While better than analysts' average profit forecast of 2.8 billion euros, Volkswagen said it was still braced for a tough year as it battles to rebuild following the biggest business crisis in its 79 year history.
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