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Fiat Chrysler Q2 profits rise 15% but debt disappoints

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Great Wall Motor Co cooled prospects for a deal with Fiat Chrysler Automobiles NV, saying there are no talks and it may not pursue a takeover of the Italian-American car manufacturer's Jeep division.

[MILAN] Fiat Chrysler Automobiles (FCA) on Thursday reported a slightly better-than-expected second-quarter adjusted operating profit, helped by improvements in Europe and Latin America and continued strong performance in its key market in North America.

The world's seventh-largest carmaker said adjusted earnings before interest and tax (EBIT) for the April-June period rose 15 per cent to 1.87 billion euros (S$2.975 billion), above a 1.81 billion consensus in a Thomson Reuters analyst poll.

Revenues were basically flat at 27.9 billion euros, slightly below an average analyst forecast of 28.9 billion euros.

Net industrial debt fell to 4.2 billion euros by the end of June from 5.1 billion euros three months earlier, but was higher than an analyst consensus forecast of 3.9 billion euros.

The group confirmed its full-year guidance.


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