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		</div><p>Volkswagen saw profits tumble by nearly a fifth at the start of 2016 as it continued to grapple with the fall-out from its global emissions scandal.</p>
<p>The group posted a 19.3% drop in pre-tax profits to €3.2bn for the three months to the end of March, with revenues down 3.4%.</p>
<p>But chief executive Matthias Mueller insisted it was a &#8220;respectable&#8221; result, with operating profits edging 3.4% higher to €3.4bn from €3.3bn a year earlier, boosted by one-off effects.</p>
<p>He said: &#8220;In light of the wide range of challenges we are currently facing, we are satisfied overall with the start we have made to what will undoubtedly be a demanding fiscal year 2016.</p>
<p>&#8220;We once again managed to limit the economic effects of the diesel issue and achieve respectable results under difficult conditions.&#8221;</p>
<p>Volkswagen faces heavy costs for recalls and fixes to cars with engine-control software that evaded emissions tests.</p>
<p>The company has already earmarked €16.7bn to cover recalls and other costs for 11 million cars sold with the software globally.</p>
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