Business
Second Quarter Results
Second Quarter Results.
About this update from Fdm Group (holdings) Plc
[{"type":"text","content":"\n RNS Number : 8416P Ford Motor Co 23 July 2010 \nFORD POSTS NET INCOME OF $2.6 BILLION IN SECOND QUARTER 2010; CONTINUES TO DELIVER PROFITABLE GROWTH+\n\nFord reports second quarter net income of $2.6 billion, or 61 cents per share, a $338 million improvement from second quarter 2009. Pre-tax operating profit totaled $2.9 billion, or 68 cents per share, a $3.5 billion improvement from second quarter 2009 and a $932 million improvement from first quarter 2010++\nFord Automotive operations posted a second quarter pre-tax operating profit of $2.1 billion, a $3.2 billion improvement from second quarter 2009 and $872 million improvement from first quarter 2010\nEach Automotive business operation reported a profit for the quarter and showed improvement compared with a year ago; Ford North America reported second quarter pre-tax operating profit of $1.9 billion, a\n$2.8 billion improvement from second quarter 2009 and $645 million improvement from first quarter 2010\nRevenue for the quarter totaled $31.3 billion, up $4.5 billion from second quarter 2009; excluding Volvo revenue from 2009, the revenue increase was $7.4 billion, or over 30 percent++\nFord ended the quarter with $21.9 billion of Automotive gross cash and total liquidity of $25.4 billion. Automotive operating-related cash flow was $2.6 billion positive\nFord retired $7 billion of debt, lowering annualized interest costs by more than $470 million. Ford ended the quarter with $27.3 billion in Automotive debt\nPre-tax operating profit in the first half equaled $5 billion, a $7.5 billion improvement over first half 2009++\nFord Credit reported second quarter pre-tax operating profit of $888 million, a $242 million improvement from second quarter 2009 and a $60 million improvement from first quarter 2010\nFord is on track to deliver solid profits in 2010 with positive Automotive operating-related cash flow, and continued improvement in 2011\nBy the end of 2011, Ford expects to move from an Automotive net debt position to a net cash position\n\n\n\n\n\nFinancial Results Summary\n\n\nSecond Quarter\n\n\nFirst Half \n\n\n\n\n \n\n\n2009\n\n\n2010\n\n\nO/(U) 2009\n\n\n2009\n\n\n2010\n\n\nO/(U) 2009\n\n\n\n\nWholesales (000)+ +\n\n\n1,194\n\n\n1,418\n\n\n224\n\n\n 2,180\n\n\n 2...