GERMANY: Chrysler drags DaimlerChrysler Q2 net profit down 91% year on year
In what it described as "a difficult global economic environment", DaimlerChrysler posted an operating profit of €0.6 billion for the second quarter of 2003 (down almost 65% on the €1.7 billion booked in the same period of 2002) but is still hoping to achieve a group operating profit of about €5 billion for the full year. As widely expected, in a US market described as "characterised by substantial price incentives", the Chrysler group reported a loss, while all other divisions improved their earnings, in some cases significantly. Net profit was down 91% to €0.1 billion (Q2 2002: €1.1 billion) and earnings per share were €0.11 (Q2 2002: €1.10).
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