UPDATE 3-Peugeot cautious on 2005 before product offensive

Newswire

(Recasts, adds analyst comment, shares, detail) By Louise Knowles PARIS, Feb 23 (Reuters) - French carmaker PSA Peugeot Citroen said on Wednesday its profitability would at best hold steady this year despite an imminent product offensive that will rejuvenate its model range. Europe's second-biggest carmaker posted a drop in 2004 profits, but just met its target of an operating profit "in the region of" 2003's figure, after a year dogged by sluggish demand and cut-throat competition in ...

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