Peugeot Reports First Profit in Three Years on Cost Cuts
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PSA Peugeot Citroen, Europe’s second-largest carmaker, reported better-than-expected profit in the first half as cost cuts and new models helped it return to the black after three years of losses.
Peugeot rose the most in more than five months in Paris trading after reporting operating income of 477 million euros ($640 million) before one-time gains and charges, compared with a deficit of 100 million euros a year earlier. The figure beat the 358 million-euro average of eight analyst estimates compiled by Bloomberg.