Renault profit surges 38% to US$3.5bil

  • Business Premium
  • Saturday, 11 Feb 2017

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.

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