Paris - French auto maker PSA Peugeot Citroen said Wednesday it had earned net profits of 733 million euros (1.16 billion dollars) in the first half of 2008, up by a hefty 49 per cent over the same period last year.

First-half turnover reached 31.3 billion euros, a rise of 1.6 per cent over 2007, the company said in a press statement.

Sales of Peugeot Citroen automobiles accounted for 24.5 billion euros, up 1.4 per cent over last year, on nearly 1.85 billion vehicles sold worldwide, an increase of 4.6 per cent.

Investors were encouraged by the results and bid up the company's shares by more than 8 per cent, to 34.56 euros, in early trading on the Paris Bourse. (dpa)