PARIS: Renault SA’s profit surged 38% in 2016 after the French carmaker gained market share in Europe with an expanded lineup of sport utility vehicles (SUVs) and upgraded models like the Megane hatchback.
Operating profit increased to 3.28 billion euros (US$3.5bil) from 2.38 billion euros a year earlier, the Boulogne-Billancourt-based company said in a statement. The figure exceeded the 3.05 billion-euro average of 16 analyst estimates compiled by Bloomberg. Revenue jumped 13% to 51.2 billion euros. The shares rose the most in seven months.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
