The
French automaker PSA, maker of Peugeot and Citroen vehicles, boosted net profits
in 2000 by 80 percent to 1.3 billion euros ($US1.19 billion), meeting a consensus
of analysts’ expectations announced earlier this week.

Operating profits also exceeded the analysts’ predictions, rising 26.7 percent
to 2.12 billion euros ($US1.95 billion).

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Analysts had predicted an 82 percent increase in net profit along with a 25
percent rise in operating profit.

At a press conference, PSA said it plans to increase the 2001 operating profit
to 2.6 billion euros ($US2.3 million) and boost the operating margin of its
car division to 4.8 percent (2000: 4.2 percent; 1999: 3.5 percent).

PSA also announced a six-for-one stock split.

The company’s shares finished 0.04 percent up at 278.1 euros on Tuesday.

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PSA said it would introduce 25 new car models during 2001 to 2004, compared
with the nine launched from 1997 to 2000.

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