| PSA Peugeot Citroen profits up five-fold |
| Thursday, 14 February 2008 | |||||
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Peugeot Citroen has reported 2007 profits of €885m (£657m), nearly five times what it reported in 2006. The result marked a successful first year for chief executive Christian Streiff, who took on his position with the company in February 2007.  Successful under new leadership Turnover was up 7.1 per cent, the report said, and vehicle sales were up by 3.8 per cent. It pays to cut costsStreiff initiated a programme to cut costs upon joining the company, and Peugeot Citroen has credited some of its 2007 profits jump to this.
The company said improved sales and a better product mix helped as well. Looking aheadHikes in raw materials costs and unfavourable currency exchange rates, however, impacted the company negatively in 2007, but Peugeot still has high hopes for the future.
While the carmaker expects markets in western Europe to decline, it has said double-digit growth in Eastern Europe, South America, China and Russia would make up for this dip. Related Articles
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Warwick Bnaks
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Having just purchase... Having just purchased one of Citroen's excellent C-Crossers I am not surprised. For the previous 23 years I have had Land Rover products but am pleased to have changed at last. |
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