LONDON : Renault posted a better-than-expected operating profit for the first half of the year on Wednesday due to strong pricing and new vehicle launches, and stuck to its full-year profit-margin forecast.The French automaker last week reported that its first-half sales volume rose 1.
FILE PHOTO: Raindrops cover the logo of French car manufacturer Renault on a automobile seen in Paris, France, January 14, 2016. REUTERS/Christian Hartmann/File PhotoLONDON : Renault posted a better-than-expected operating profit for the first half of the year on Wednesday due to strong pricing and new vehicle launches, and stuck to its full-year profit-margin forecast.
Renault posted a higher operating margin of 8.1 per cent for the first half of the year, up from 7.6 per cent a year earlier and higher than the 7.9 per cent expected by analysts.The automaker stuck to its full-year operating margin forecast of 7.4 per cent or above. The company had hoped to be at the forefront of legacy automakers' efforts to go electric, with a plan for the Renault brand to go fully electric by the end of the decade.
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