Source Pravda.Ru

Fiat's Iveco Truck unit reports .05 percent revenue growth in 2006

Revenue at Fiat SpA's truck unit Iveco grew to about Ђ9 billion (US$11.6 billion) in 2006, from Ђ8.5 billion a year earlier, the company said.

Iveco chief executive Paolo Monferino said during a presentation in Monte Carlo that the Fiat truck unit's 2006 performance was in line with targets. More details were to be disclosed when Fiat reports full-year 2006 earnings on Jan. 25.

The unit lifted its operating profit margin to about 6 percent of revenues in 2006, again in line with targets. In 2005, Iveco's operating margin was 3.9 percent of revenues, reports AP.

Iveco, a unit of the Fiat Group SpA, designs, manufactures and markets a wide range of commercial vehicles and produces public transport vehicles as well as special purpose vehicles for defense and civil protection applications, engines and firefighting vehicles.