Ford has reduced its losses and predicted...
Ford has reduced its losses and predicted a "slight" profit for the final months of 2002.
Ford has reduced its losses of $700m to $326m for 90-days period ending 31 September.
The result was achieved mostly thanks to the sale of Kwik-Fit, the British-based car-repair business that was sold at a loss.
Excluding the $525m charge associated with the Kwik-Fit Ford earned 12 cents a share while analysts predicted only four. Profit for the third quarter raised 9% up to $39.58bn. at the same time the number of vehicles sold also rose 9%, to 1.66 million units.
It is expected profits for the remaining three months of 2002 would be 40 cents a share.