Belfast Telegraph

Brakes applied to Renault's profits

French car maker Renault said its earnings fell in 2011 compared to a year earlier, when it booked an exceptional €2bn (£1.6bn) gain on the sale of part of its stake in Volvo.

Renault, France's second largest car producer behind Peugeot-Citroen, reported net profit of €2.1bn (£1.7bn), down from €3.4bn (£2.8bn) a year earlier.