A view in the rear mirror

12 July 2016 By Olaf Storbeck

The German carmaker performed much better in the second quarter than analysts had expected, beating operating profit forecasts by more than 5 percent. Unfortunately, it could be Daimler’s last good news for a while. A Brexit-related slump will dent car sales in Europe.

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Daimler's second-quarter operating profit rose on higher earnings from vans and bus operations, as the group kept to its guidance for a small increase in full-year profit.

Earnings before interest and tax (EBIT), adjusted for special items, climbed "significantly above" market expectations to 4 billion euros from 3.8 billion euros a year earlier, Stuttgart-based Daimler said in preliminary results published late on July 11.

Daimler stood by forecasts for the group's adjusted full-year EBIT to slightly beat 2015 levels, with higher earnings at Mercedes-Benz cars, vans and bus operations seen offsetting a strong decline in trucks, it said.

The group is scheduled to publish full quarterly results on July 21.

As of 0950 BST, Daimler shares were trading at 57.8 euros, up 4.7 percent.

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