Solid Renault profits drive recruitment push

PARIS, Feb 12 (AFP): French carmaker Renault said on Thursday it would create 1,000 permanent jobs in France this year off the back of a strong growth in profits in 2014.

Renault posted net profits of 1.89 billion euros ($2.14 billion), a huge jump from the 586 million last year.

However, overall group sales were up only marginally, with 41.05 billion euros in turnover-a rise of 0.3 per cent-mainly due to unfavourable exchange rate movements.

Investors cheered the results, with Renault stocks on the Paris market up seven percent compared to the broader market which was 0.75 per cent higher.

"We met all the objectives announced for 2014," said group chief executive and chairman Carlos Ghosn.