MILAN — Ferrari says its net earnings doubled in the third quarter thanks mostly to one-off tax benefit.
The sports car maker said Monday that net earnings were 287 million euros ($327 million) compared with 141 million euros a year earlier.
The company said earnings grew 5 percent when excluding the so-called patent box tax break, agreed on with Italian authorities, covering use of copyrights, patents, trademarks, design and know-how.
Europe and Middle East sales were up by double digits to 1,005. The Americas grew by 5 percent and greater China by 7 percent.
Ferrari forecast full-year sales at over 9,000 cars with profits of 1.1 billion euros.