Renault 2004 results

Renault has announced that 2004 net profits have risen 43% to €2.4bn (£2.9bn) and sales rose 8% to €40.7bn (£28bn).

Renault said strong demand outside western Europe and the good performance of its Megane range lifted its results.

Renault sold more than 2.4 million vehicles in 2004, an increase of 4% on the previous year. Growth came mainly from outside western Europe, with particularly strong sales in Turkey, Russia and North Africa.

Sales outside western Europe rose 16.5%.

Japanese carmaker Nissan - in which Renault owns a 44% stake - contributed €1.7bn (£1.17bn) in net income over the year.

"In a sluggish market and an environment impacted by the rise in raw material prices, Renault intends to continue to grow its global sales," the company said in a statement.