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Renault posts record 2017 earnings, extends Ghosn's term by 4 years

Renault pledged to maintain its group operating margin above 6% in 2018 despite worsening currency effects that reduced its full-year profit by 300 million euros

Reuters  |  France 

French carmaker Renault posted record sales and profit for 2017, bolstering Chief Executive Carlos Ghosn's position in the face of government demands for a clearer succession plan and deeper integration with alliance partner Nissan Renault said on Friday its operating profit surged 17.4 per cent to an all-time high of 3.854 billion euros ($4.84 billion), or 6.6 per cent of revenue —- which rose 14.7 per cent to 58.77 billion on buoyant European demand. The record earnings and margin beat analysts' expectations of 3.65 billion euros in operating profit, based on ...

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First Published: Fri, February 16 2018. 14:10 IST