AM Online

Ford expects to be solidly profitable in 2011

Ford posted Q3 2009 net profits of £609m yesterday, a swing from a £98m loss in Q3 2008.

The carmaker achieved the result despite a £488m drop in revenues, as it lopped £611m off its costs in the quarter and benefitted from the US cash for clunkers scheme.

Ford said it now expects to be "solidly profitable" in 2011. It had previously said it expected to be at breakeven or better.

In Europe, operating profits rose to £118m from £42m a year ago despite a 22% drop in sales.

 

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.