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Thursday, October 24, 2013

Ford raises annual profit forecast


Ford raises annual profit forecast

Ford truckFord is benefiting from a strong home market
Ford has raised its profit forecast for the year amid continued strength in its home market.
Previously the company said that profits this year would match last year's, but Ford now expects to exceed the $8bn made in 2012.
Third quarter profit fell 22% to $1.27bn (£780m), but that included a $250m charge to reorganise its business in Europe.
Ford's North American unit reported a profit of $2.3bn for the third quarter.
In a statement with the results, Bob Shanks, chief financial officer, said: "We substantially reduced our losses in Europe, set a record third quarter profit in Asia Pacific Africa and saw a $150m improvement in South America."