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PSA Posts Operating Profit
PSA Peugeot Citroen's consolidated operating income in the first half of 2014 surged to €477 million, reversing a €100 million operating loss in the same period last year.
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PSA Peugeot Citroen's consolidated operating income in the first half of 2014 surged to €477 million, reversing a €100 million operating loss in the same period last year.
Automotive operations swung to a €7 million operating profit the unit's first for the period since 2011 from a €538 million loss in the first half of 2013. The company also narrowed its net loss in January-June to €114 million from €471 million in 2013.
First-half revenue was flat at €27.6 billion. Revenue from automotive operations also was unchanged at €18.6 billion. But cash flow surged to €1.7 billion from €203 million. Automotive operations swung to a €7 million operating profit the unit's first for the period since 2011 from a €538 million loss in the first half of 2013.
PSA's results were aided by a 21% jump to €311 million in operating profits by its Faurecia SA component affiliate.
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