Plex
Zorce Jedi Master
Joined: 01 May 2005
Posts: 9039
Location: T&T
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 Posted: Wed May 28, 2008 4:46 pm Post subject: Peugeot-Citroen Reaffirms It Sees 3.5% Operating Margin |
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PARIS -(Dow Jones)- French car maker PSA Peugeot-Citroen (PEUGY) Wednesday reaffirmed its full-year earnings and volume sales guidance for 2008 despite signs of weakness in some of its key markets.
Roland Vardanega, who heads the company's technical and industrial operations, told Peugeot-Citroen's annual shareholder meeting that its operating margin is expected to reach 3.5% this year, up from 2.9% in 2007.
Europe's second-largest automotive company by revenue is also targeting an increase of about 5% in worldwide vehicle sales this year from last year's total of 3.23 million.
Vardanega was presenting the company's 2007 performance and giving the 2008 outlook in the place of Chief Executive Christian Streiff, who was hospitalized earlier this week after suffering what the company is describing as a "health incident," without giving more details.
Company officials said Streiff is undergoing tests and is likely to be back on the job early next week.
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