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Peugeot maker PSA’s revenue, profits rise in 2019
Peugeot displayed its new car and new technologies at during the Paris Motor Show at Parc des Expositions Porte de Versailles on October 2, 2018 in Paris, France.Daniel Pier | NurPhoto | NurPhoto | Getty ImagesPeugeot maker PSA Group posted a higher-than-expected rise in 2019 revenue on Wednesday, although the volumes of cars sold declined, with the…
Peugeot displayed its new car and new technologies at during the Paris Motor Show at Parc des Expositions Porte de Versailles on October 2, 2018 in Paris, France.
Daniel Pier | NurPhoto | NurPhoto | Getty Images
Peugeot maker PSA Group posted a higher-than-expected rise in 2019 revenue on Wednesday, although the volumes of cars sold declined, with the French firm saying it anticipated sliding demand in Europe and Russia this year.
The auto group, which is working through a merger with Italy's Fiat Chrysler, has relied on selling pricier models like SUVs to boost earnings at a time when revenues have faltered at many rivals.
PSA said group revenue came in at 74.7 billion euros ($81.2 billion), up 1% from a year earlier and slightly above the average of 74.2 billion euros seen in a Refinitiv poll of analysts. Operating margins reached a record 8.5%.
Net profit increased 13.2% to 3.2 billion euros, and the company increased its dividend against 2019 results to 1.23 euros per share, up 58% from 2018 levels.
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