Italy's Fiat said today its main car business more than doubled its second-quarter trading profit to €193 million ($266.7 million).
Fiat also reiterated it expected to reach the upper end of all the 2007 target ranges.
The target ranges include a group trading profit of €2.5 billion to €2.7 billion and a net profit of €1.6 billion to €1.8 billion. Fiat shares initially fell more than 1 per cent before recovering to €23.31, down 0.47 per cent at 9.07am.
Fiat also said it expected to have a net industrial debt of about €600 million by the end of the year, lower than a previously forecast €1 billion.
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For the entire group, trading profit rose 30.3 per cent to €946 million in the second quarter.