Peugeot hits new earnings record despite Opel loss

Paris

BUOYANT sales of new models helped French carmaker PSA Group shrug off losses at newly acquired Opel to lift 2017 revenue, profit and operating margin to new records.

PSA shares climbed on Thursday after the maker of Peugeot, Citroen, Opel and Vauxhall cars said that net income rose 11.5 per cent to 1.93 billion euros (S$3.1 billion) on a 20.7 per cent revenue increase to 65.21 billion euros.