Don't miss

Replay


LATEST SHOWS

THE INTERVIEW

NATO chief hails strength of transatlantic bond on defence, security

Read more

EYE ON AFRICA

At least 18 killed in Abidjan floods from heavy rains

Read more

MEDIAWATCH

Trump's anti-Merkel Twitter tirade

Read more

THE DEBATE

Ten days to save Merkel? German leader under pressure over border policy

Read more

FOCUS

Alarmingly high rates of HIV among China's youth

Read more

ENCORE!

Samira Wiley, Darren Criss & Neal McDonough at Monte-Carlo Television Festival

Read more

THE OBSERVERS

Violence against trangender women in Indonesia, and more

Read more

IN THE PRESS

'The frozen heart of America': Condemnation as migrant families torn apart in US

Read more

THE INTERVIEW

'There are two policies towards Russia in the Trump administration'

Read more

Business

French carmaker Renault bounces back with first-half profit

Text by NEWS WIRES

Latest update : 2010-07-30

Renault has announced a net profit of 780 million euros for the first six months of 2010, reversing a €2.7 billion loss over the same period last year, on the back of a 23% rise in sales.

AFP - Renault pushed back in to profit in the first half of the year with a net figure of 780 million euros (1.022 billion dollars) from a loss at the same time last year of 2.732 billion euros, it said on Friday.

The French auto group said it expected the global market to grow by about 8.0 percent this year, but said that the overall European market would probably fall by 7.0-8.0 percent.

The company stood by an outlook given at the beginning of the year that it would increase its share on its main markets.

Sales surged by 23.1 percent in the first half from the level during hard times amid the economic downturn at the same time last year to 19.668 billion euros.

The group said that "the performance and results are ahead of the plan set at the beginning of the year."

But the climate was unusually uncertain and the group would be particularly vigilant regarding any change in the economic situation, it said.

For the whole year, it expected to generate positive free cash flow, a measure of the rate at which cash flows in to the company compared with the speed of outgoings.

Date created : 2010-07-30

  • AUTO INDUSTRY

    Renault and Daimler announce partnership

    Read more

  • AUTO INDUSTRY

    Renault ends Indian car alliance over Logan flop

    Read more

  • AUTO INDUSTRY

    Renault CEO Ghosn reelected and eyeing profits

    Read more

COMMENT(S)