PSA has shown increasing interest in a purchase of Opel/Vauxhall and also the ailing Proton brand, following an 18% jump in profits in 2016, which further underlined its revival in recent years. Its operating income rose to €3.24 billion (£2.71bn) in 2016 from €2.73bn (£2.31bn) a year before. This includes a loss of €280 million (£237m) from currency swings in the wake of Brexit.
Automotive operating profit widened to from 5% to 6%, it reported; The Volkswagen Group's operating profit is around 6.5%, but buoyed by the wider margins of Audi and Skoda; Volkswagen itself operates at closer to a 2% margin.
"These results demonstrate our ability to consistently deliver an excellent performance in an adverse environment," PSA CEO Carlos Tavares said in a statement. "The group is building the conditions for profitable and sustainable growth."