AGL 40.08 Increased By ▲ 0.08 (0.2%)
AIRLINK 127.00 Decreased By ▼ -0.04 (-0.03%)
BOP 6.60 Decreased By ▼ -0.07 (-1.05%)
CNERGY 4.46 Decreased By ▼ -0.05 (-1.11%)
DCL 8.60 Increased By ▲ 0.05 (0.58%)
DFML 41.51 Increased By ▲ 0.07 (0.17%)
DGKC 87.00 Increased By ▲ 0.15 (0.17%)
FCCL 32.15 Decreased By ▼ -0.13 (-0.4%)
FFBL 64.86 Increased By ▲ 0.06 (0.09%)
FFL 10.14 Decreased By ▼ -0.11 (-1.07%)
HUBC 109.42 Decreased By ▼ -0.15 (-0.14%)
HUMNL 14.67 Decreased By ▼ -0.01 (-0.07%)
KEL 5.14 Increased By ▲ 0.09 (1.78%)
KOSM 7.35 Decreased By ▼ -0.11 (-1.47%)
MLCF 41.20 Decreased By ▼ -0.18 (-0.43%)
NBP 59.95 Decreased By ▼ -0.46 (-0.76%)
OGDC 195.15 Increased By ▲ 5.05 (2.66%)
PAEL 28.27 Increased By ▲ 0.44 (1.58%)
PIBTL 7.77 Decreased By ▼ -0.06 (-0.77%)
PPL 151.45 Increased By ▲ 1.39 (0.93%)
PRL 26.45 Decreased By ▼ -0.43 (-1.6%)
PTC 16.17 Increased By ▲ 0.10 (0.62%)
SEARL 78.30 Decreased By ▼ -7.70 (-8.95%)
TELE 7.47 Decreased By ▼ -0.24 (-3.11%)
TOMCL 35.46 Increased By ▲ 0.05 (0.14%)
TPLP 8.28 Increased By ▲ 0.16 (1.97%)
TREET 16.00 Decreased By ▼ -0.41 (-2.5%)
TRG 52.71 Decreased By ▼ -0.58 (-1.09%)
UNITY 26.45 Increased By ▲ 0.29 (1.11%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,941 Increased By 57.1 (0.58%)
BR30 30,870 Increased By 270.4 (0.88%)
KSE100 93,847 Increased By 491.7 (0.53%)
KSE30 29,069 Increased By 138.5 (0.48%)

French carmaker Renault went into the red last year, the first time in a decade, with net losses of 141 million euros ($152 million) due to lower sales and a falling contribution from its Japanese partner Nissan. Renault said its outlook for 2020 was bleak with a fresh fall in operational profitability, a statement said Friday.

Last year saw group operating margin drop from 6.3 percent to 4.8 percent, though Renault stated that it "achieved its targets, revised in October," despite "a troubled context."

The auto giant in 2019 marked its first full year without former emblematic CEO Carlos Ghosn, arrested in Japan in November 2018 over allegations of financial misconduct, including under reporting salary and misuse of company assets at Renault partner Nissan.

Brazilian-born Ghosn, who also has French and Lebanese nationality, is now in Lebanon, where he fled in December after jumping bail in Japan.

In a struggling global auto market Renault saw group revenues slide 3.3 percent to 55.5 billion euros while confirming sales dropped 3.4 percent at 3.75 million vehicles.

Unveiling operating income down almost a third to 2.11 billion euros, the group said it expected 2020 to bring a further profitability hit, with revenues of a similar order to 2019.

Copyright Agence France-Presse, 2020

Comments

Comments are closed.