SHARES in French carmaker Peugeot-CitroËn zoomed up over six per cent yesterday, after the company revealed strong improvement in operating income.
In addition, its auto division was back in profit for the first time in three years, as its four year turnaround strategy began to bear fruit. Consolidated operating income before one time items and charges was €477m (£376m) in the first half of 2014, a strong recovery from its operating loss of €100m in 2013.
The auto division saw operating profit of €7m in the first half of 2014, a dramatic improvement on a €538m loss a year earlier.
There was also a strong boost to positive free cash flow, up to €1.5bn.
As part of the wide ranging turnaround strategy, including significant cost cutting,
Second half challenges include slow recovery in French demand and instability in markets such as
Most Popular Stories
- Bently Creates Alabama Small Business Commission
- When to Say No to Investors, Yes to Mentors
- Bolivar Appointed to NSHMBA National Board
- Duke Energy, Strata Partner on Big Solar Project
- SBA Kicks off Hispanic Heritage Month
- Rosneft Growth Slowed by Western Sanctions
- Ukraine Offers Temporary Autonomy to Rebel-held Areas
- Lindsay Lohan Claims She Handled Whitney Houston's Body Bag
- Cat Stevens Touring U.S., First Since 1970s
- Thousands Risk Losing Health Care Aid