Daimler meets profit target

January 4, 2002 Posted: 1249 GMT

LONDON (Reuters) -- DaimlerChrysler said on Friday it was on track to hit the bottom end of its earnings target range, with 2001 adjusted operating profit due to come in at about 1.2 billion ($1.08 billion).

In February last year, it had set a range of between 1.2 billion and 1.7 billion, but after September's attacks in the United States the group said it was likely to post a profit at the lower end of that range.

The world's third-largest automaker by revenues also said 2001 revenues would come it at about 150 billion euros, down from 162 billion euros in 2000.

The group said its restructuring plan aimed at returning its Chrysler unit to profit in 2002 was on track and that the overhaul of its U.S. Freightliner trucks unit was also in line with targets.