USA: Ford posts first full-year net profit since 2000
Cost cutting in Europe and a restructuring of financial arrangements with former parts making subsidiary Visteon caused Ford Motor Company to post a net loss of $US793 million, or 43 cents per share, for the fourth quarter of 2003, compared with a net loss of $130 million, or 7 cents per share, for Q4 2002. But the company on Thursday reported full-year 2003 net income of $495 million, or 27 cents per share, its first full year profit since 2000, which compares with a net loss of $980 million, or 55 cents per share, for full-year 2002.
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