Renault raises 2004 target as H1 beats forecasts

Newswire

PARIS, July 28 (Reuters) - French auto maker Renault raised its full-year profit target on Wednesday cheered by better-than-expected first-half results as motorists snapped up its Megane cars and it made money outside Europe. Europe's fourth biggest carmaker said it expected to post a full-year operating margin of 5.5 percent of sales versus 3.7 percent in 2003, and above a former target of 4.5 percent, based on current exchange rates. Net profit would rise in line. First-half net profit ...

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