Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Alpha Condé reacts to Dadis Camara's bid to return home

Read more

MEDIAWATCH

'We need an American in every train compartment'

Read more

THE WORLD THIS WEEK

When China Sneezes: World markets rattled by bubble burst (part 2)

Read more

THE WORLD THIS WEEK

Desperate to get to Europe: How to handle migrant surge? (part 1)

Read more

FRANCE IN FOCUS

Behind the scenes of France's National Assembly

Read more

#TECH 24

Saving water, one shower at a time

Read more

FOCUS

Katrina, ten years on: Young survivors still grapple with trauma

Read more

ENCORE!

Has New Orleans got its groove back?

Read more

REPORTERS

Meet the French troops hunting jihadists in Sahel

Read more

Business

Peugeot Citroen slumps to first half loss of 962 million euros

Text by NEWS WIRES

Latest update : 2009-07-29

French auto giant PSA Peugeot Citroen has slumped to a first half loss of 962 million euros, the company announced on Wednesday. PSA forecast losses for 2009 as a whole but anticipates a recovery towards the end of 2010.

AFP - French auto giant PSA Peugeot Citroen said Wednesday it slumped to a first half loss of 962 million euros (1.37 billion dollars) as the global economic crisis hit the auto industry.

In its 2008 first half, the company reported a net profit of 733 million euros but finished the year with a net loss of 343 million euros as the economic crisis decimated auto sales.

PSA said it was maintaining its forecast for a 12 percent fall in the European vehicle market this year, with "the beginning of a recovery seen towards the end of 2010."

It reaffirmed its forecast for a 2009 operating loss of between one and two billion euros after a first half loss of 826 million euros.

First half sales were down 21.8 percent at 23.5 billion euros.
 

Date created : 2009-07-29

COMMENT(S)