Jaguar shows first profit since 1990
Thursday 02 February 1995
The company still made a loss for 1994 of $155m, although this was cut from $371m in 1993. Jaguar said the improvement in the final quarter was due to continuing cost-cutting and better sales of its XJ6 range, which accounts for 85 per cent of the company's sales.
Jaguar's break-even point has been cut from 45,000 to 31,000 vehicles. Last year the company's output was its highest for four years at 31,477 vehicles, and this year Jaguar expects to produce 38,000 cars. "We had a very encouraging end to the year,'' a spokesman said.
Ford ended 1994 with a sharply higher fourth-quarter profit, and more than doubled its yearly earnings. America's second-largest car maker reported final-quarter profits of $1.6bn, compared with $719m last time. It was the eighth straight quarter of rising profit. Ford's revenues for the October-December period reached $33.6bn, up from $27.8bn in the previous year. Profits for the year were $5.3bn, compared with $2.5bn in 1993. Revenue was $128.4bn, against $108.5bn.
Alex Trotman, chairman, said: "In the US, Ford's retail demand has been running above what it was a year ago, and consumer confidence remains strong. In Europe, most economies are well into recovery now, and we expect continued improvement."
Last year Ford sold 6.63 million vehicles, compared with 5.96 million in 1993. Its share of the US car and truck market was 25.2 per cent, compared with 25.5 per cent a year ago. And the company's share of the Western Europe market was 12.1 per cent, up from 11.8 per cent.
Income included a one-time gain of $110m from the recent devaluation of the Mexican peso. However, the devaluation is expected to hit future earnings, Mr Trotman said.
- 1 Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
- 2 Rarest Beanie Baby of them all could be sold for £62,500 on eBay
- 3 Professional big game hunter Ian Gibson crushed to death by elephant during hunt
- 4 Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
- 5 Rebecca Francis accuses Ricky Gervais of using 'influence' to target female hunters after receiving barrage of death threats
Yemen crisis: Meet the child soldiers who have forsaken books for Kalashnikovs
Alan Rickman admits editing 'terrible' script with friends in Pizza Hut behind backs of writers on Robin Hood: Prince of Thieves
Rarest Beanie Baby of them all could be sold for £62,500 on eBay
Professional big game hunter Ian Gibson crushed to death by elephant during hunt
Farmer told to tear down mock-Tudor castle after hiding construction behind hay bales
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
iJobs Money & Business
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£50000 - £667000 per annum + excellent benefits : Ashdown Group: IT Manager / ...
£13000 - £20000 per annum: Recruitment Genius: Scotland's leading life insuran...
£40000 - £45000 per annum + benefits : Ashdown Group: Training Programme Manag...