UPDATE 1DIeteren raises 2007 pretax profit forecast
(Updates with details, background)
BRUSSELS, Jan 14 (Reuters) - Belgium’s largest car
distributor D’Ieteren (IETB.BR: Quote, Profile, Research) has raised its guidance for 2007
pretax profit growth to 25 percent from 20 percent, due to a
strong performance at its automobile arm.
“D’Ieteren Auto has had an excellent year 2007,” the group
said, adding that sales in the division had grown around 6
percent.
Analysts at KBC and Petercam had predicted, respectively, an
increase of 4 and 5 percent for automobile division sales and 22
and 23.4 percent for 2007 pretax profit.
D’Ieteren distributes the Volkswagen (VOWG.DE: Quote, Profile, Research), Seat, Audi,
Skoda, Bentley, Porsche (PSHG_p.DE: Quote, Profile, Research) and Lamborghini brands. It
has a majority stake in Europe’s biggest car rental company Avis
(AVE.L: Quote, Profile, Research) and Belron, a vehicle glass repair and replacement
business.
D’Ieteren said the Belgian car market was expected to
contract by about 6 percent in 2008 to around 495,000 new car
registrations.
At Belron, sales growth in 2007 was about 33 percent.
D’Ieteren reports its annual results on Feb. 29.
(Reporting by Julien Ponthus, editing by Will Waterman)
