![Takealot sells fashion retailer Superbalist to private equity consortium](https://biz-file.com/c/2409/749826-64x64.jpg?5)
Subscribe & Follow
Jobs
- Motor Vehicle Technician Vredendal
- Parts Sales Executive Vredendal
- ARC Panel Workshop Manager Cape Town
- ARC Strip and Assembler Cape Town
- Buyer Learnership Vereeniging
- Junior Bookkeeper Ekurhuleni
Peugeot's huge loss of €5bn
The company said it was implementing its recovery plans and had already cleaned-up its balance sheet.
Peugeot blamed its poor results on a previously announced €4.7bn asset write-down last year that was compounded by the poor performance of the European car market.
The loss compared with a profit of €588m in 2011. Revenue for the year fell 5.2% to €55.4bn.
"The results reflect the deterioration of the automotive industry in Europe," chief executive officer Philippe Varin said in a statement.
The results were worse than forecast by analysts and over-shadowed Peugeot's previous record loss of €1.2bn in 2009. The company has net debts of €3bn.
Earlier this week the European Commission authorised France to provide a €1,2bn guarantee to the company.
Source: AFP via I-Net Bridge
Source: I-Net Bridge
![](https://biz-file.com/b/1206/36520.gif?3)
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za![](https://cdn.bizcommunity.com/f/2408/Loeries-Tote-bag-competition.gif)
![](/res/img/s.gif)