Iveco doubles profit but goes for 20% more
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• Iveco aims to boost its profits by at least 20% this year, according to managing director Giorgio Garuzzo.
Last year the company more than doubled its nett profit to some 285 million, and paid out the first dividend in its 11-year history.
Garuzzo says that Iveco also expects to pay dividends from its 1987 profits. Its production companies — Magirus in West Germany, Unic in France and those in Italy — are all running in the black.
This year's nett income will take account of Iveco's 48% stake in Iveco Ford Truck, the UK truck builder set up with Ford of Britain in the middle of last year. Garuzzo says that the UK company has performed better than anticipated and any 1987 loss will be small.
During IETs first six months of operation it suffered a nett loss of .222 million. Since then its two principal shareholders have injected a further 26 million in new capital.