Porsche chief executive officer Wendelin Wiedeking expects Volkswagen, Europe's biggest carmaker, to achieve operating profit of €5.1 billion by 2008 with spending cuts. Contributions from Porsche's 27.4 per cent stake in Volkswagen will offset two years of stagnating sales as the sports-car maker develops a four-door model. The company said it was "more optimistic" about its financial year than it was at the beginning of the period. Revenue and unit sales would exceed last year's and the "difficult" market environment in North America would remain unchanged, it said.