Renault returns to profit

10th February 2011, Comments 0 comments

French automaker Renault said Thursday it had made a profit of 3.42 billion euros in 2010 against a loss of 3.12 billion euros the previous year, predicting an even stronger result in 2011.

In a statement the firm said it was looking at "higher sales volume and bigger turnover" in 2011 after profits in 2010 were boosted by one-off income of two billion euros from the sale of part of Swedish automaker Volvo.

Operating profit stood at 1.09 billion euros, 2.8 percent of sales, against an operating loss of 396 million in 2009.

© 2011 AFP

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