French car maker Renault has said its net profit last year fell by 7.5% because of weaker performances at associated companies including Japan's Nissan.
2007 profits were just under €2.7 billion, but sales rose 1.8% to €40.68 billion. The profit contribution from Nissan fell from €1.87 billion in 2006 to €1.29 billion.
But Renault said its operating margin improved to 3.3% of sales, attributing the improvement mainly to 'efforts on productivity and the reduction of costs'.
Chief executive Carlos Ghosn said that in 2008 the group would benefit fully from sales of new models launched last year. He said the company was counting on the global launches of nine new products and 'on expansion in strongly growing markets'. But he warned that an unfavourable economic climate would affect European markets.
