Iveco Ford is back in profit
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• lveco Ford is firmly back in the black following the announcement of a net profit of £9.6 million for last year, compared with a loss of 29.4 million in 1987. The company also saw its turnover rise almost 32% last year to £258 million. The results reflect the growing strength of the joint-venture company in only its second full year of trading.
Speaking at the Turin Show this week, Iveco boss Giorgio Garuzzo says the figures were a "great satisfaction" to both partners and shareholders. And Iveco Ford's commercial operations director says turnover and profits in 1989 are likely to go higher.