Porsche AG, the German sportscar maker unit of Porsche Automobil Holding SE (PAH3.XE), said Thursday first quarter revenue and operating profit rose sharply due to increased demand in China, Germany and the U.S.

MAIN FACTS:

-First quarter revenue jumped 32% on the year to EUR3.03 billion.

-Porsche AG's first quarter operating profit climbed 18% to EUR528 million, and the operating return on sales was nearly 18%.

-"We can fund both the significant increase in investment and the development expenditure for expanding our model range out of our strong cash flow," chief financial officer Lutz Meschke said.

-Led by a 38% increase in sales of the new 911 model, worldwide first quarter car sales increased 29% to 30,231 units.

-Porsche aims to boost sales to around 200,000 units by 2018 with an operating return on sales of at least 15%.

 
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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