French company Renault has increased its revenue in 2024 thanks to the success of its new range of cars. However, net profit has declined due to a shrinking partnership with Nissan.

Revenues for the group, which also includes budget brand Dacia and sports brand Alpine, rose 7.4% to €56.2bn, while operating profit margin reached a record 7.6%.

Net profit fell to €800 million due to the €1.5 billion loss the company reported on the sale of Nissan shares. Without this step, profit would have reached €2.8bn, an increase of 21% on 2023.

The board has proposed paying a dividend of €2.20 per share, up 19% from last year.

The company's shares were down about 1% in late morning trading on the Paris Stock Exchange. | BGNES, AFP