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Italy's Pininfarina H1 loss narrows
August 1, 2014 / 4:30 PM / 3 years ago

Italy's Pininfarina H1 loss narrows

MILAN, Aug 1 (Reuters) - Italian car design company Pininfarina posted a smaller operating loss in the first half helped by improving automotive operations in Italy, rising profitability in China and the good performance of its industrial design business.

The group forecast a positive operating result for the year after cutting its net loss in the period to 4.5 million euros from 6.3 million euros in the first six months of 2013.

Net debt rose to 51.6 million euros from 36.4 million euros at the end of 2013 in part due to tax charges.

The group said that parent company Pininfarina SpA’s debt restructuring plan progressed according to the conditions agreed with creditors.

Reporting by Valentina Za, editing by Silvia Aloisi

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