Scania’s Net Income Soars on Robust Russian Sales

Swedish truck maker Scania AB’s second-quarter net income jumped 51% to about $505 million, or 63 cents a share, from last year's $333 million, or 42 cents, as truck sales in Russia boomed, Bloomberg reported Friday.

Scania's quarterly sales rose 14% to about $4 billion, led by Russian and Eastern European demand, Bloomberg said.

Chief Executive Officer Leif Oestling said that Scania’s long-term outlook remains “good,” though he did not provide a more detailed outlook for 2009, Bloomberg reported.

Scania said that overall truck orders in the second quarter fell to 17,029 vehicles from 22,185 vehicles a year ago, according to Bloomberg.

Scania is controlled by German truck maker Volkswagen AG, which earlier this year purchased the Wallenberg family’s stake in the Soedertaelje, Sweden-based truck maker.