Sunny outlook lifts Renault

French carmaker Renault yesterday predicted an upturn in global sales will restore its manufacturing division to profit this year, as overseas growth outweighs Europe’s slump. The firm yesterday impressed investors with a rise in operating cash flow to €597m (£513.9m), which offset a fall in net income to €1.77bn on revenues 3.2 per cent lower at €41.27bn. Renault’s upbeat outlook contrasted with rival Peugeot’s gloomy forecast earlier in the week.