Third-quarter revenue of French automaker PSA Peugeot-Citroen achieved 12 percent behind strong gains in new vehicle sales, higher prices and an improved product mix.
Peugeot-Citroen said revenues rose to 14.02 billion EUR(US$20.06 billion) in the quarter - above an average estimate of 13.12 billion EUR(US$18.77 billion) of seven analysts polled by Dow Jones Newswires.
Europe's second-largest car maker by revenue after Germany's Volkswagen AG said revenue for the first nine months rose 7.7 percent to 44.84 billion EUR(US$64.16 billion).
The company reaffirmed a target for an operating margin of more than 2 percent in the second half of 2007, saying consolidated sales and revenue in the last quarter of this year are expected to increase from a year earlier in the period.
Revenue of Peugeot-Citroen's automobile division increased by 12 percent in the quarter to 10.96 billion EUR(US$15.68 billion), and by 7.3 percent in the first nine months to 35.13 billion EUR(US$50.27 billion).
New vehicle sales increased 14 percent, Peugeot-Citroen said.
Compared with a year earlier, the third-quarter of 2007 saw a 3 percent improvement in the product mix, and a 1.4 percent increase in prices, the company said.
Peugeot-Citroen reported an 0.8 percent increase in registrations of its Peugeot and Citroen brands in the first nine months, compared to a 0.4 percent rise for the overall European market.
Peugeot-Citroen's third-quarter performance was boosted by a better-than-expected 8.7 percent increase in revenue at Faurecia SA, its car parts subsidiary.
Peugeot-Citroen's share price has risen by 15 percent this year, and on Thursday, the shares closed up 2.2 percent at 57.81 EUR(US$82.72), beating the 1.5 percent rise in the CAC 40 on the Paris stock exchange.
On January 15, it was reported that the Russian government began to develop sanctions against several officials at the World Anti-Doping Agency (WADA)