30 Jul '15, 12pm

Peugeot-Citroen shows positive earnings for first half

Europe’s second largest automaker is now in the black – PSA Peugeot-Citroen posted earnings of 571 million euros (RM2.4 billion) for the first half of 2015, its best ever since 2011. A report by Bloomberg states that a cutback in spending and an increase in the sales of higher priced vehicles are a few of the factors that have contributed to the automaker’s positive standing. Recurring operating income also jumped from 387 million euros (RM1.6 billion) in the first six months of 2014 to 1.42 billion euros (RM5.9 billion) in 2015 – the surge comes mostly from the automotive division, with a third of it from a “favourable business environment,” while the remainder of its earnings were derived from lesser discounting and expenditure cuts along with increased sales. The company’s strategy to recovery is through accelerating growth, called “Back in the Race .” Spearheaded by ne...

Full article: http://paultan.org/2015/07/30/peugeot-citroen-shows-posit...

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