Turin

Exor holding company sees profits drop in first 9 months

Exor profits included a one-time gain from stake in Chrysler

Exor holding company sees profits drop in first 9 months

Turin, November 14 - Exor, the Italian holding company that controls automaker Fiat, announced Wednesday that its net profit for the first nine months of this fiscal year dropped to 286.4 million euros from 484.7 million euros reported in the same period last year. Exor, controlled by the powerful Agnelli family, said its net profit included a one-time gain of 323.3 million euros from upping its stake in Chrysler to 61.8%. The company ended the third quarter with consolidated net income of 71.8 million euros, an increase of 64.3 million euros compared to the same period in 2011. photo: Exor President and Chief Executive John Elkann

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