Scania’s Profit Triples on Stronger European Demand

Swedish truck maker Scania AB’s fourth-quarter profit tripled as the European truck market rebounded, Bloomberg reported.

Net income jumped to $470 million from $125 million a year ago, Scania said in a statement.

Sales at the company, which is controlled by Volkswagen AG, rose 23% to $3.5 billion.

Scania said in November it was considering a merger with German competitor MAN SE to create Europe’s largest manufacturer of commercial vehicles, Bloomberg reported.