Arab Today, arab today renault nearly doubles profits as europe shows recovery
Last Updated : GMT 07:53:53
Arab Today, arab today
Arab Today, arab today

Renault nearly doubles profits as Europe shows recovery

Arab Today, arab today

Arab Today, arab today Renault nearly doubles profits as Europe shows recovery

French car maker Renault's new D-segment saloon
Paris - AFP

French auto group Renault announced Thursday its first half profits had doubled to 1.4 billion euros ($1.54 billion) compared to the same period in 2014 as the European market showed a stronger than expected recovery.

In addition to nearly doubling its first half profits of 749 million euros last year, Renault said its primary income on car sales had progressed 12.4 percent to 21 billion euros.

Total sales improved by 12 percent, reaching 22.1 billion euros.

"Thanks to a stronger than forecasted recovery in a European market, and despite a more adverse environment in our main emerging markets, Groupe Renault half-year results marked a further step towards 'Drive the change' plan targets," said Renault chairman Carlos Ghosn.

"The successful line-up renewal and expansion, European momentum and disciplined execution put the Group in a favourable position to reach its revenue growth and operating margin targets," he added.

Revenue from higher sales was further bolstered by favourable exchange rates, the company said, while price increases in markets like Brazil and Russia helped off-set falling national currency values.

Renault said attentiveness to costs and increased efficiencies provided roughly half of the profit rise, with improved sales responsible for the other half.

For the longer term, however, Renault financial director Dominique Thormann noted that internal discipline could improve results only to a certain point, and "progressively, (sales) growth must take over to keep turning the corner."

Despite its improved first semester figures, Renault's share price dropped sharply in early trading in Paris, with the stock down seven percent to 83.59 euros around 0800 GMT while the CAC index inched up 0.04 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today renault nearly doubles profits as europe shows recovery Arab Today, arab today renault nearly doubles profits as europe shows recovery

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today renault nearly doubles profits as europe shows recovery Arab Today, arab today renault nearly doubles profits as europe shows recovery

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday