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[Porsche profits remain stable, 911 models hedge sales decline] October 27th, despite a sharp decline in car sales, thanks to the demand for 911 sports cars and high-priced derivative models, Porsche AG's profitability remains stable. The company maintains its full-year performance guidance: revenue of 35 billion to 36 billion euros, and group operating profit margin of 5.5% to 7.5%. Porsche plans to lay off employees, streamline management, cut R&D expenses, shrink its scale to cope with the difficult environment, and then focus on higher-end markets.
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