/world business
PARIS, France (AP) -- French automaker PSA Peugeot-Citroen on Wednesday said net profit rose almost 50 percent in the first half, as cost-cutting and efficiency measures more than offset an increase in energy and raw material costs.
Net profit in the six months until June was 733 million euros ($1.16 billion), an increase of 49 percent from 492 million euros ($783.21 million) in the same period a year earlier, the car maker said.
Revenue climbed 1.6 percent to 31.3 billion euros ($49.83 billion).
Europe's No. 2 car manufacturer by sales said it is maintaining its full-year objective of a 3.5 percent consolidated operating margin in 2008 and sales of between 3.55 million and 3.65 million vehicles, or a volume growth of about 5 percent.
Peugeot-Citroen CEO Christian Streiff has set a target of 4 million vehicle sales by 2010, with the bulk of the growth coming from outside the mature European market.
Copyright 2008 The Associated Press. All rights reserved.This material may not be published, broadcast, rewritten, or redistributed.
| Most Viewed | Most Emailed |
| Most Viewed | Most Emailed |
From the Blogs: 
Sit tight, we're getting to the good stuff
