Ford posts first annual profit for four years

Ford has posted an annual profit for the first time in four years.

The carmaker made $2.7bn (£1.7bn) in 2009, compared with a loss of almost $15bn in 2008, and said it expects to be profitable this year as well. For the final three months of last year, the company made $868m, a dramatic improvement on the $6bn loss it made a year earlier.

Ford said its return to profitability was in part due to cutting costs and reducing debt levels.

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source: BBC