The PSA Group, which manufactures Peugeot and Citroen cars, made a profit of 541 million pounds in the first six months of 2020, despite the pandemic.
PSA Group, which recently merged with Fiat Chrysler Automobiles (FCA), said its first half fell to 541 million pounds from 1.83 billion euros the previous year, with sales falling 35% to 6-25.1 billion euros.
While the showrooms reopened in July, sales recovered and PSA expects to report profits for 2019 through 2021, with adjusted operating margins of more than 4.5%.
PSA Group said: “The operational effects and monetary position will have long-term developments, which remain very dubious and cannot be as predicted at this time.”
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