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| Ford posts profit for second quarter | |
26 July 2007 |
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| Ford has reported a net profit of $750 million for the second quarter of 2007, compared with a loss of $317 million in same quarter last year. The sale of Aston Martin contributed $443 million to the results, but Ford also reported revenues up to $44.2 billion from $41.9 billion, mainly through price changes and cost reductions, the group said. Ford confirmed for the first time officially that it is exploring the sale of the Jaguar and Land Rover businesses and said it was in discussions with interested groups. Reports in newspapers today have identified Tata of India as a potential frontrunner for the combined group, though private equity firms are also known to have made offers. Ford said that it was conducting a "strategic review" of the Volvo Cars business and it was likely to be concluded before the end of the year. Previous reports have indicated that Volvo could be next on Ford's sales list, though the Swedish carmaker is thought to be profitable.
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