PARIS, July 23 (Reuters) - French car parts maker Faurecia SA said on Tuesday that net profit slumped to 600,000 euros in the first half of 2002 against a proforma profit of 7.0 million in the same period last year.
Faurecia, which is 70-percent owned by French carmaker PSA Peugeot-Citroen, said it expected sales to rise at least five percent in the second half of the year despite forecasting a decline of two to three percent in European automotive production during the period.
For the first half of 2002 sales fell two percent to 4.958 billion euros. EBITDA fell to 300.2 million euros versus 313.6 million in the prior year.