Ferrari posts large profit

Ferarri's first-quarter profit has jumped 36 per cent. The Italian luxury vehicle manufacturer is benefiting from demand for the more expensive models that were unveiled as part of the company's 70th anniversary. Earnings before tax calculated to 242 million euros, from 178 million in the previous year.  According to a statement from the company, demand for cars with V12 engines surged 50 percent in the first quarter. As part of the sales growth, demand for the new flagship 812 Superfast model was very high.  The 812 is the fastest car in Ferrari's history Meanwhile shares increased to 4.2 per cent, hitting a new record and stock surged to 86 per cent in the last year.