PARIS -- Renault reported a 1.36-billion-euro ($1.39 billion) net loss for the first half from the cost of closing its Russian business in the wake of the Ukraine war, but the company upgraded its full-year outlook, saying its turnaround plan to improve profitability was delivering results ahead of schedule.
The automaker increased its full-year margin forecast to more than 5 percent, up from a previous goal of 3 percent, as new models and better pricing improve profitability. It said operating margins in the first half were 4.7 percent, against 2.1 percent in the same period last year.