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STOCK MARKET VIEW
Fiat results surprise investors
Fiat results surprise investors, but long-term looks cloudy
Published: Thu, 15 Aug 2013 19:56:31 GMT
 

Fiat 500L unveiling Geneva 2012

“Can a car company survive if it spends so little on future product for so long?” - Cut in profit forecast expected

Fiat’s half year financial results surprised and impressed investment bankers, but they aren’t very confident about the company’s future, even if it manages to win complete control of Chrysler. 

And analysts worry that the slashing of spending on research and development on new cars might fatally compromise Fiat’s future.

In the second quarter, Fiat Group increased its trading profit 8.7 per cent to €1.03 billion compared with the same period last year. 

Fiat managed to cut its losses in Europe to €98 million from €138 million a year ago, despite sales falling almost 10 per cent in the first six months. Fiat plans to return to profit in Europe by 2016. 

Fiat Group retained its forecast of increasing trading profit to between €4 billion and €4.5 billion in all of 2013, up from €3.81 billion in 2012
...more

 

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