PARIS - The automaker says it had a "mediocre" year in 2005, as profits slid to €1.0 billion ($1.19bn; £688bn) from €1.6bn a year earlier. Operating profit was €1.9bn compared with €2.5bn in 2004.
PSA Peugeot Citroën believes the first half of 2006 will be similar before an improvement later in the year. It blames the higher cost of raw materials for the downturn as well as the impact of new European emissions standards.
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