BERLIN, July 18 Reuters Volkswagenowned Porsche expects revenue of 38 billion to 39 billion euros 38.63 billion to 39.64 billion in 2022 from 33.1 billion in 2021, the sportscar maker said on Monday, despite registering a 5 drop in deliveries in the first half of the year.

Longterm, the brand is targeting 20 or more return on sales, with a goal of 1718 for 2022, it said, up from 16 in 2021.

Porsche, which its owner Volkswagen plans to list on the stock market by the end of this year, saw a 5 drop in deliveries in the first half of 2022 with China sales down 16 amid coronavirusinduced lockdowns.

Still, Chief Financial Officer Lutz Meschke said the carmaker expects a stronger second half in China, with Chief Executive Oliver Blume adding June and July sales so far were positive.

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Reporting by Victoria Waldersee, Editing by Miranda Murray

Source Reuters