Fiat Group (FIATY.PK) Wednesday reported an increase in fourth-quarter profit, helped mainly by a double-digit revenue growth.
Net income for the quarter increased to 388 million euros from 265 million euros in the same period last year. Earnings attributable to owners of the parent totaled 102 million euros.
Excluding unusuals, profit for the quarter was 500 million euros.
Trading profit totaled 987 million, up 29 percent from last year.
EBITDA increased to 1.94 billion euros from 1.81 billion euros last year. EBIT totaled 907 million euros, up from 760 million euros last year.Group revenues grew 11 percent to 21.8 billion euros from 19.64 billion euros last year.Excluding Chrysler, the company reported fourth-quarter loss of 241 million, up from 201 million euros last year. Revenues dropped to 9.15 billion euros from 9.37 billion euros last year.Looking ahead to the fiscal year 2013, the Group anticipates profit in a range of 1.2 billion euros to 1.5 billion euros and revenues in the order of 88 billion euros to 92 billion euros.
Trading profit is expected to range between 4.0 billion euros and 4.5 billion euros.
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by RTT Staff Writer
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