Renault Truck Profits Drop In 1999
Renault reported a 1999 net profit of 55.5 million euros (about $55.1 million in U.S. dollars) for Renault VI/Mack. That was 58% below 1998 profits for the heavy vehicle unit
Renault reported a 1999 net profit of 55.5 million euros (about $55.1 million in U.S. dollars) for Renault VI/Mack. That was 58% below 1998 profits for the heavy vehicle unit.
The result included about 180 million euros ($179 million) for an employee early retirement program.
The operating margin rose 29.4%, to 220.0 million euros ($219.4 million.) Sales rose 9.2% to 6.52 billion euros ($6.47 billion).
The company noted "exceptionally strong" demand in Europe and North America with record sales of 93,231 trucks, up 7.3% from the previous year.
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