UPDATE 1 — Volkswagen cuts outlook on $11.5 billion one — off hit

(Recasts, adds details in paragraph 1-3) Sept 18 (Reuters) — Volkswagen on Friday slashed its outlook, flagging €10 billion ($11.5 billion) in one-off items related to its stake in luxury sportscar maker Porsche, provisions for job cuts and a weak Chinese market. Shares in Europe's largest automaker fell 5.6% on the news. The German-based group now expects a profit margin of 1% at the most in 2026, having previously guided for 4.0% to 5.5%. ($1 = 0.8721 euros) (Reporting by Tristan Veyet in Gdansk and Christoph Steitz; Editing by Kevin Liffey) ((Tristan.veyet@thomsonreuters.com;)