AM Online

Jaguar Land Rover UK operations posts huge loss

Jaguar Land Rover's UK operations posted a net loss of £673.4m last year, according to accounts filed with Companies House last week.

The total "recognised losses" at the two car makers reached nearly £1.2 bilion last year, reports the Financial Times.

JLR said yesterday the accounts covered only its UK operations, and did not consolidate its businesses elsewhere.

The company added Jaguar's 2007 results included a £308.7m gain from the sale of its shares in Aston Martin.

In its accounts, Land Rover said it had organised borrowing of £100m and $486m between January and May, $300m with banks and the rest with Tata affiliated companies.

JLR added it had a letter of intent for another £100m for at least a year from a Tata affiliated company.



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


No comments have been made yet.