CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

PSA envisages 150 mln euros hit to H1 results from Japan's disaster

06-01-2011 09:36 BJT

PARIS, May 31 (Xinhua) -- A senior official of the France's No. 1 car maker PSA Peugeot Citroen estimated Tuesday that the group is likely to suffer an impact of 150 million euros (216.1 million U.S. dollars) in its operational results of the first half of this year for the effect brought by the Japanese earthquake and tsunami.

The group is "obviously attentive" to the situation, its Chief Financial Officer Frederic Saint-Geours was quoted as saying in a general meeting in Paris. Meanwhile, the financial officer confirmed that 2011 would witness more profit of the automotive division from 2010.

Following a profit of 1.13 billion euros (1.63 billion dollars) in 2010, the Europe's second biggest carmaker by market value reported 10.2 percent increase in sales in the first quarter though the group in March reduced production in plants both in France and overseas.

The earthquake and tsunami hitting Japan in mid-March had disrupted the global automotive industry and caused supply difficulties for almost all operators.

Announcing the group's first quarter results in April, PSA said strong demand in emerging markets can offset the negative impact of supply chain woes in Japan, therefore the group can uphold its objectives for 2011, seeing a stable European market in 2011, with around 10 percent market growth in China, 4 percent in Latin America and 15 percent in Russia.

According to local media, PSA is considering to locate two sites of new plants in the states of Andhra Pradesh and Tamil Nadu in South India.

 

Editor:Yang Jie |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program