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BMW CEO foresees record profit in 2006

German luxury car maker Bayerische Motoren Werke AG said yesterday it expects to drive to record profit again this year, as a result of higher unit sales, even if currency effects and high raw material costs remained big imponderables.BMW said it was pencilling in pretax profit of €4-billion ($5.57-billion) this year, up from €3.28-billion in 2005. Included in that figure will be a one-off gain of €350-million from the reduction of BMW's stake in British engine maker Rolls-Royce PLC. BMW (Frankfurt) rose 97 euro cents ($1.35) to €42.93. AFP

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