Daimler Posts Profit After Chrysler Sale, Job Cuts

Daimler AG, the world's second-largest maker of luxury cars, announced a IV-quarter profit after selling the Chrysler division in the U.S. and cutting jobs at Mercedes-Benz Cars. Net income equals 1.7 billion euros ($2.5 billion) compared with a year-ago loss of 12 million euros, Germany Stuttgart - based Daimler said in a report today. Revenue fell 1.9 percent to 26.5 billion euros. CEO Dieter Zetsche foretold further earnings raise in 2008 as demand for cars in emerging countries outweighs a probable recession in the U.S., Daimler's biggest market. Chrysler's selling last year will let Daimler concentrate on improving profitability at remaining divisions, including truckmaking and vehicle finance, Zetsche said today. ``These figures are another indication that the situation is much rosier than the current stock market value indicates,'' said Juergen Meyer, who helps manage 1.2 billion euros in investments, including Daimler stock, at SEB Asset Management in Frankfurt.