The Wall Street Journal-20080214-PSA Peugeot-Citroen SA- Net Profit Surged Last Year On Cost Cuts- More Efficiency

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PSA Peugeot-Citroen SA: Net Profit Surged Last Year On Cost Cuts, More Efficiency

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French auto maker PSA Peugeot-Citroen SA said net profit surged in 2007 as the company reaped the rewards of cost cuts and improved efficiency. Peugeot-Citroen said net profit jumped to 885 million euros ($1.29 billion) last year from 183 million euros in 2006, benefiting from lower charges. The earnings were helped by a 3.8% increase in the number of vehicles produced last year to 3.43 million, as well as improvements in pricing and a greater proportion of higher- value products sold. Revenue increased 7.1% to 60.61 billion euros from 56.59 billion euros, with the automobile division posting a 6.5% increase to 46.46 billion euros.