MILAN -- Luxury Italian sports carmaker Ferrari has announced a record first quarter as sales of its V12 models boosted profits by 60 per cent.
Ferrari, based in the northern Italian city of Maranello, on Thursday announced net profits of 124 million euros ($136 million) in the first quarter, up from 78 million euros a year earlier.
Revenues were up by 22 per cent to 821 million euros, with shipments growing by 6 per cent to 2,003 units. Deliveries of 12-cylinder V12 models rose by half.
Sales in Europe grew by 9 per cent, powered by double-digit sales in Germany, France, Italy and Britain, while deliveries rose 4 per cent each in the Americas and the Asian Pacific, which excludes greater China, where sales were up 3 per cent.
