India, March 20 -- Shares of BMW Group (BMW.L) declined around 5 percent in German trading after the auto giant reported Wednesday weak profit in its fiscal year 2018, despite a slight growth in Automotive revenues with higher deliveries. Looking ahead for fiscal 2019, the company expects Group profit before tax will be well below the previous year's level.
Regarding the outlook, the company noted that some positive valuation effects recorded in 2018 will not be repeated in 2019.
BMW Group said it is confident of its ability to achieve volume growth in the Automotive segment, where it is targeting a slight increase in the number of deliveries to customers in 2019.
Within a stable business environment, BMW Group expects an EBIT margin in ...