| VOLVO 1986 RESULT OFF SLIGHTLY FROM 1985 | |
| AB Volvo <VOLV.ST> said the weakening | |
| dollar caused the drop in its 1986 profits, but company chief | |
| executive Pehr Gyllenhammar said 1986 was one of Volvo's best | |
| years ever. | |
| In its final report released earlier, the company said the | |
| group's 1986 profits before allocations and taxes was 7.53 | |
| billion crowns compared with 1985's 7.60 billion. | |
| Despite the fall, Gyllenhammar said, "Sales of industrial | |
| products have never been higher, and Volvo Cars and Volvo | |
| Trucks were both completely sold out at year-end. Operating | |
| income was slightly higher than a year earlier." | |
| He said the company's financial strength gave it | |
| exceptional opportunities to invest for the future. | |
| Although industrial sales were up, the company's yearend | |
| report said total sales were 84.09 billion crowns against | |
| 1985's 86.19 billion. | |