FORD Retail has reported a record-breaking 2009 turnover of £1.15bn that sees it return to profit.

The Ford-owned UK retail group made a pre-tax profit of £15.7m, reversing a £0.85m loss for year-end 2008.

A sales increase of more than 7 percent helped this performance, and led chairman and chief exec Chris Hayden to say it is all ‘a result of our relentless focus on improving every aspect of our operation.

‘Of particular satisfaction is how we have managed to deliver more consistent positive results throughout the year on a month-by-month basis.’

The results mean Ford Retail now commands a 15.2 percent share of the new Ford car market, a rise of 1.9 percent. It is also the UK’s biggest supplier of Transits.

Even a decline in used car volumes didn’t dampen things: profit contribution there was stronger thanks to better margins. Meanwhile, aftersales revenues were up 9.1 percent courtesy of a renewed focus through the @firstparts division.

Looking ahead to 2010, Chris Hayden said: ‘We remain cautious for the year ahead with the UK economic recovery in a fragile state and post-election uncertainties that exist such as the cost of borrowing.

‘However, the Group is in a strong competitive position, both financially and operationally, and is ready to fully exploit markets as conditions improve.’

Tags: ford retail, record, recovery, results, turnover

This entry was last updated on Thursday, May 6th, 2010 at 10:53 am and is filed under News.