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2011-02-09 13:04:06
9 February 2011 Last updated at 07:26 GMT
A Peugeot executive shows off the new 508 The Peugeot 508 will launch in Europe
and China this year
French carmaker Peugeot Citroen has returned to a full-year profit after seeing
a strong recovery in 2010.
Sales rose by 15.8% to 56bn euros ($76.5bn; 47.6bn), "driven by successful new
models, market share gains and improved demand worldwide".
It reported a net profit of 1.13bn euros for last year, compared with a loss of
1.16bn euros in 2009.
Peugeot said that in 2011 it would continue with its second joint venture in
China and would enter India.
Chairman Philippe Varin said 2010's results were "significantly ahead" of
target.
When carmakers globally were suffering due to a drop in demand during the
financial crisis, Peugeot received a 3bn euro loan from the French government
in April 2009.
In September 2010, it repaid a third of that, and Mr Varin said the company's
"solid financial situation" would enable it to reimburse fully the remaining
2bn euros.
The carmaker said it expected the European market to remain stable in 2011, but
forecast growth of 4% in Latin America, 10% in China and 15% in Russia.