Companies / Argentina
Renault Holds Its Nerve As First Half Results Are Unveiled
July 2006 | Company News AlertFrench carmaker Renault has unveiled better-than-expected results for the first half of 2006. Despite a 25% fall in net profit to EUR1.62bn, the company posted an operating profit of EUR592mn, while turnover was up 0.4% to EUR21.55bn. Dogged by the spiralling cost of raw materials and energy prices - conditions that are widely expected to continue into the second half of the year - Renault nonetheless remains adamant that it will achieve an operating margin of 2.5% in 2006. Renault has, however, raised the projected impact of higher raw material costs from EUR250mn to EUR350mn.
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