Ford chalk up profits of $2.6bn
American car manufacturer Ford has announced that it made a profit of $2.6bn in the last quarter.
News of Ford's second-quarter profits came on the back of solid recent sales figures and could be a sign that the company's well-documented financial troubles are firmly in the past.
Indeed, the announcement came only three years after Ford announced it had debts approaching $30 billion, and understandably took many Wall Street analysts by surprise.
According to BBC News, Ford's revenue climbed to $31.3bn compared with $27.2bn a year earlier. The rise is well above the $29.8bn that analysts had previously predicted.
The figures reflect a fifth consecutive profitable quarter for America's number two carmaker, and also represent Ford's highest profit in six years.
"We delivered a very strong second quarter and first half of 2010 and are ahead of where we thought we would be despite the still-challenging business conditions," Ford Chief Executive Alan Mulally was quoted as saying by Reuters.
“We expect even better financial results in 2011," he added.
According to the Financial Times, Ford - which refused government bailout money in January 2009 - has benefited from a growing market share in North America as well as higher transaction prices on many of its models.
Ford's car sales rose 28% in the first six months of 2010 - a figure that BBC News describe as "almost double the industry pace". It is thought that car buyers have been attracted to Ford by the release of new models and the chance to upgrade to high-tech in-car features.
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