Fiat more than doubles Q3 profits thanks to ChryslerOctober 30, 2012 - 15:55 AMT PanARMENIAN.Net - Italian carmaker Fiat more than doubled its third quarter profits thanks to strong North American sales by its Chrysler unit and as good demand in Latin America and Asia more than compensated for a weak European market, The Associated Press reported. On the basis of the results, Fiat confirmed its 2012 guidance at the lower end of forecasts. Fiat said third-quarter net profit for the quarter ended Sept. 30 was €286 million ($369 million), up from €112 million in the same period a year earlier. Revenues were up 16 percent to €20.4 billion. Net profit attributable to the owner — not counting assets not wholly owned by Fiat — was €39 million, up from a loss of €46 million last year. Fiat forecast 2012 revenues of about €83 billion. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. |