 jumped almost 60 percent in the first half of this year){kind=link}
Profits at French carmaker Renault Group (EPA:RNO) jumped almost 60 percent in the first half of this year, but its share price fell after investors failed to be impressed by the figures.
Sales hit a record 1.88 million vehicles in the six months to June, with worldwide sales rising 10 percent and far outpacing the 2.6 percent increase of the wider market.
The company continued to increase volume and received a larger payout from its holding in Nissan Motor Co, sending revenue up 17 percent to 29.54 billion euros, from 25.19 billion euros this time last year.
However, the group reported a profit margin in the first half of just 4.8 percent, a 0.1 percent increase on the same period last year. This came well below rival French car maker Peugeot’s figure of 7.3 percent.
The Renault-Nissan group of companies could overtake Toyota and Volkswagen this year to become the world’s biggest car maker by sales, according to chief executive Carlos Ghosn.
However the stronger-than-expected results failed to excite investors, who pushed its share price down in mid-morning trading on Friday. Renault shares are currently trading down 5.95 percent at 76.22 (1154GMT).