Ford Australia announced today that it has registered its first annual profit in past four years. Ford Australia reported a net profit of $A13 million for the fiscal 2009 against a loss of $A274 million in FY 2008.

The company said that the net profit was mainly attributable to the improved company cost structure and the non repeat of one time actions associated with the restructure plans. Ford also said that it is very optimistic for the year
2010 and 2011.

Ford Australia said that profit after tax was reported of $A13 million for the year 2009, while the company reported a net loss of $A274 million in the previous corresponding year. This was reported the first annual profit by Ford Australia since the year 2005. Total revenue in the year was reported of $A3.14 billion, decreasing by 4.8% while it was reported of $A3.3 billion in 2008.

Ford Australia said in its annual results that the company sold 99279 vehicles in the year 2009, decreasing by 8.5% while it sold 108564 vehicles in the previous corresponding year.

Ford Australia also said that it is confident to register a growth of 15-20% in its sales of local products in the year 2010. The company expects a 10% increase in overall sales for the year 2010.