Salem Radio Network News Monday, September 20, 2021

Business

France’s Renault swings to half-year net profit versus 2020 loss

LONDON (Reuters) – French carmaker Renault on Friday posted a half-year net profit compared to a hefty loss for the same period in 2020, thanks to rising car sales and a turnaround plan focused on profitability.

The carmaker reported a quarterly net profit of 354 million euros ($420.52 million) for the first six months of 2021 compared to a loss of nearly 7.3 billion euros for the same period in 2020, which included lengthy industry-wide production shutdowns aimed at slowing the spread of the coronavirus pandemic.

($1 = 0.8418 euros)

(Reporting By Nick Carey; editing by Vinay Dwivedi)

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