Paris — French car-maker PSA Group said its first-quarter revenue rose 4.9% as the first results of a new product offensive helped overcome negative currency effects. Revenue advanced to €13.63bn from €13bn a year earlier, the maker of Peugeot, Citroen and DS cars said on Wednesday. At its core automotive division, revenue rose a more modest 2.5% to €9.02bn. PSA, which, last month, agreed to buy European rival Opel from General Motors, said two existing joint vehicle programmes would lift its second-half revenue. The Paris-based car-maker has rebounded from near-bankruptcy and government-backed bailout in 2014 to a 6% automotive operating margin last year on the strength of cost-cutting, a pared-down line-up and determined efforts to lift prices. "We can see the beginning of the success of our product launches with its first effects on the top line," chief financial officer Jean-Baptiste de Chatillon said on a conference call with analysts. However, he cautioned that "it will take s...
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