Peugeot Posts Narrower 2014 Loss

reported a narrower net loss for 2014. Peugeot posted a net loss of 706 million euros, versus a year-ago loss of 2.33 billion euros. Basic loss per share shrank to 1.15 euros from 6.80 euros. The company posted an operating profit of 223 million euros, versus an operating loss of 1.53 billion euros. Its recurring operating profit came in at 905 million euros, versus a loss of 364 million euros. Its revenue climbed to EUR53.61 billion from EUR53.08 billion. Unit sales gained 4.3%. Its automotive division posted an operating income of EUR63 million, versus an operating loss of EUR1.05 billion in 2013. For 2015, the company projects auto demand to rise 7% in China and 1% in Europe. The company also expects auto demand to decline 10% in Latin America. Peugeot shares climbed 5.86% to close at $15.54 yesterday.