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FRANCE |
 Renault CEO Carlos Ghosn at the Geneva Motor Show 2013 Better than generally expected damage containment in Europe’s long lingering car sales drought, plus a much improved €766m cash contribution from its Nissan partner clearly failed to offset Renault’s excruciating pains from the Iran sanctions, which played their part in transforming an outwardly rosy looking €583m first-half operating profit into a contrasting €249m pre-tax (EBIT) loss. Part of the same tale, first half net profits took a headlong 87% plunge to €97m from €774m a year earlier Renault, on first sight, ended this year’s first half in considerably better shape than earlier feared. Its group revenue eased back only marginally to €20.44bn from €20.6bn a year ago, and to the surprise of a great many industry watchers, its group operating profits for the period edged up 14.8 per cent to €583m from a restated €508m during the same period last year. But the less good news was that below the line, thanks to the deeply damaging one off factor, Renault still ended this year’s first half in the red....more MORE LIKE THIS: Infiniti - Will Nissan throw the towel? 18 Jul 2013 Ford’s can-do US car hybrid strategy 04 Jun 2013 On lively US car hybrid scene Toyota still marches to own tune 18 Apr 2013 |
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