https://europe.autonews.com/automakers/profits-jump-psa-ahead-fiat-chrysler-mergerPARIS -- PSA Group said profitability reached fresh highs in 2019, though the automaker underscored a gloomy outlook for car sales in markets including Europe this year as it pursues its merger with Fiat Chrysler Automobiles.
Operating margin reached a record 8.5 percent as the company lowered costs and sold more expensive models such as SUVs including the Citroen C5 Aircross.
Group revenue increased 1 percent to 74.7 billion euros ($81.2 billion) despite falling vehicle sales, PSA said in a statement on Wednesday.
Adjusted operating income rose 11 percent to 6.32 billion euros ($6.87 billion) and net profit increased 13.2 percent to 3.2 billion euros.
PSA increased its 2019 dividend to 1.23 euros per share, up 58 percent from 2018 levels.
