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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Renault SA | EU:RNO | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.38 | 0.82% | 46.795 | 46.60 | 46.82 | 47.12 | 46.42 | 46.45 | 895,026 | 16:40:00 |
By Jason Chow
PARIS--French car maker Renault SA (RNO.FR) reported a sharp 86% rise in profit as a strong European market and a low euro boosted results, while a bigger dividend from Nissan Motor Co. offset lower sales in its emerging markets.
Renault posted a profit of 1.4 billion euros ($1.54 billion), far higher than the EUR749 million earned during the same period a year earlier. Revenue rose 12% to EUR22.2 billion, up from EUR19.82 billion as European demand made up for weak sales in Brazil and Russia, two countries that have been former engines of growth.
"Thanks to a stronger than forecasted recovery in a European market, and despite a more adverse environment in our main emerging markets," Renault had a strong first half, said Chief Executive Carlos Ghosn.
Renault said the weak euro contributed 1.2% in revenue growth.
Unit sales of all cars were nearly flat, up just 0.8%. However, sales of Renault and Dacia cars rose 9.3% during the first six months, offsetting a 20% decline in the Americas region and a 10% decrease in the Eurasia region, which includes Russia.
Renault is in an alliance with Nissan Motor Co. and owns a 43% stake in the Japanese car maker. Nissan contributed EUR979 million in profit to Renault's bottom line, up 24%. Renault's stake in a Russian car maker accounted for a EUR70 million loss, higher than the EUR55 million loss from the same period in 2014.
-Write to Jason Chow at jason.chow@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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