First profit in four years tops £1.7 billion
28 January 2010

Ford made $2.7 billion (£1.7bn) net profit last year - its first profit in four years.

The yearly profit figure represents an improvement of $17.5bn (£10.8bn) on the previous 12 months.

The figures were revealed as Ford posted its fourth-quarter and 2009 earnings statements today.

Steve Cropley blog - The Mulally miracle

They reveal that the company achieved pre-tax operating profits of $454m (£279m) for the year, representing a $7.3bn (£4.9bn) improvement on its 2008 figures.

Underlying the extent of the car maker's turnaround during the course of the 12 months, it reported pre-tax profits of $1.8bn (£1.1bn) in the fourth quarter alone.

Ford chief executive officer Alan Mulally, said: "While we still face significant business environment challenges ahead, 2009 was a pivotal year for Ford and the strongest proof yet that our One Ford plan is working and that we are forging a path toward profitable growth by working together as one team, leveraging our global scale.

"In every part of the world, we are providing customers with great products, building a stronger business and contributing to a better world."

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Comments
6

28 January 2010

Could be due to the fact that they have sold off many of the brands that were once under the blue ovals ownership!

28 January 2010

Was this figure including or excluding Obama's donation?

28 January 2010

Even if you include the sale of the other brands Ford owned at the start of last year, it is still a massive turnarond for the company and is the first US car company to make a profit in years!

28 January 2010

[quote mistermainman]Was this figure including or excluding Obama's donation?[/quote]

Didn't Ford manage not to need a bail out?

28 January 2010

I guess that selling a few of its many marques/brands and the various scrappage schemes may have helped Ford, but at least the company made a profit.

That's better than a loss.

Well done, Ford.

28 January 2010

[quote SpiritOfSenna]

I guess that selling a few of its many marques/brands and the various scrappage schemes may have helped Ford, but at least the company made a profit.

That's better than a loss.

Well done, Ford.

[/quote]

Indeed. I picked up my brand new Fiesta last week & very nice it is too! Extremely well built - full of toys & gadgets - and really great fun to drive. Now I see why so many motoring journos/magazines scored it so highly. Well done Ford. Good looking well built reliable cars is all we're asking for.

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