PSA Peugeot Citroen says its net profit fell 9.4% to €1.36 billion ($1.8 billion) in 2004, compared with €1.5 billion ($2 billion) in 2003. The French auto maker says rising raw material prices, along with higher product-launch costs, put a dent in profits. However, the company expects new-product investments to provide a strong foundation for improved results in 2005. Overall group revenue increased 4.7% to €56.8 billion ($75 billion), with the automotive sector posting a slight ...

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