PARIS (dpa-AFX) - Groupe PSA (PEUGF.PK), the owner of Peugeot and Opel brands, reported Wednesday that its first-half net income, Group share increased to 1.83 billion euros from 1.48 billion euros a year ago. Earnings per share rose to 1.95 euros from 1.58 euros last year.
Recurring operating income grew to 3.34 billion euros from the prior year's 3.02 billion euros. Recurring operating margin improved to 8.7 percent from 7.8 percent in the prior year.
However, revenue for the period declined 0.7 percent to 38.34 billion euros from 38.60 billion euros in the year-ago period. Automotive division revenue declined 1.1 percent from last year to 30.38 billion euros.
Looking ahead, Groupe PSA said it has set the target to deliver over 4.5 percent automotive recurring operating margin on average, for the period 2019 to 2021.
Carlos Tavares, Chairman of Groupe PSA Managing Board said, 'We are ready for electrification and to embrace the next technological challenges. Our agility and aligned management team remain key assets to reach the targets of the Push to Pass plan.'
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