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BMW profits fall

BMW Group's first quarter profit fell 18 per cent from the same quarter the previous year, the company announced Thursday.

Profit from ordinary activities for the first three months of fiscal 2003 was 830 million euro ($941-million U.S.) compared to 1,011 million euro ($1,146-million U.S.) in first quarter 2002.

The drop was in line with analysts expectations.

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