Italian car group Fiat has nearly doubled its profits in the second quarter, setting the seal on a three-year journey out of crisis back in 2003.
The group said net profit had jumped by 90% from a year earlier to €627m. Sales rose by 11.5% to €15.2 billion.
The results are a new sign of a turnaround into profit after a deep restructuring programme and a drive to launch new car models such as the Panda and Fiat 500.
Fiat said it expected results for the whole year to be at the top end of its forecast range, saying that all divisions had done well in the quarter.
The main part of the Fiat group, car maker Fiat Group Automobiles, reported that its operating profit had more than doubled to €193m.
Fiat Auto, which groups the Fiat, Lance and Alfa Romeo brands, last year earned its first operating profit since 2000.
