Ford posts US $2.7B profit in 2009

FORD Motor Co., the only large American car manufacturer that averted bankruptcy last year, posted a net profit of 2.7 billion U.S. dollars annually for 2009, after a record loss in 2008, reports Bloomberg.

In the fourth quarter, Ford registered a net profit of 868 million U.S. dollars, or 25 cents per share, compared with a loss of 5.98 billion U.S. dollars in the same period of 2008, the group announced Thursday.

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Excluding one-off costs, profit was 43 cents per share, exceeding analysts' estimates.

Analysts provide a quarterly profit of 26 cents per share, according to Bloomberg data.

Ford in 2009 has increased market share for the first time in 1995, by launching new models and improved version of the Taurus sedan.

"Ford is on track to return to profit," said John Wolkonowicz, an analyst at IHS Global Insight.

"They did this on their own, without government aid. This gives them before the public the best picture in decades."

Annual profit of $2.7 billion U.S. dollars came after a record loss of 14.7 billion U.S. dollars in 2008.

Annual operating profit was 454 million U.S. dollars, in the context in which analysts estimated, on average, a loss of 1.02 billion U.S. dollars.

The fourth-quarter sales advanced by 22 percent to 35.4 billion U.S. dollars, in the context in which Ford has increased production in North America by 33 percent.

Analysts estimated, on average, earnings of 31.1 billion U.S. dollars.