Proton Exora announced as group returns to profit

Proton has returned to the black with a pre-tax profit of almost A$25 million for the first quarter of the Malaysian financial year – a 9.7 per cent gain on the same quarter last year.

The group says its improved performance was the result of a better product blend which also helped to minimise the [...]

Toyota halves profit on sales downturn

Australia’s biggest seller of cars, Toyota, has seen its profit cut almost in half during the past year as a result of slump in new vehicle sales.

In its 50th anniversary year Toyota Australia has reported a net profit of $123.4 million for its 12 month financial period to March 31, almost half the figure of [...]

Ford “on track” to end losses in 2011

Ford Motor Company’s restructuring is on track to be completed without the carmaker seeking emergency government bridge loans and to bring a profit as soon as 2011, executives have told shareholders.

Ford shareholders also approved the company’s funding plan for a healthcare trust for UAW retirees and knocked down shareholder requests to change the voting structure [...]

Ford share offer raises US$1.4b

Ford Motor Company, the US parent of Ford Australia, has raised US$1.4 billion through a 300 million share offer for US$4.75 per share; a move that its chief executive said was an important step toward getting profitable again.

Ford said the proceeds would be used for general corporate purposes, including funding a portion of its obligation [...]