UPDATE 4-Peugeot cautious on 2005 before product offensive


(Adds detail from news conference, updates shares) 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 fall in 2004 earnings, but just met its target for an operating profit of around 2003's figure, after a year dogged by sluggish demand and cut-throat competition in ...

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