F ORD made more last year as a moneylender than as
8th June 1985, Page 48
8th June 1985
Page 48
Page 48, 8th June 1985
— F
ORD made more last year as a moneylender than as
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Keywords :
Finance, Dividends, Credit, Microfinance, Moneylender, Personal Finance, Business / Finance
a motor manufacturer. But, Stanley Thomson, director of finance, warns, "Unless we do something pretty soon to reverse our fortunes," the money on which interest has been earned will have to be used "to support our daily operating activities. Then there will be no chance of earning
interest." , Interest on loans last year brought in £74m to set against a loss of 14m on manufacture and sales — the first since 1971 — leaving a profit of I:37m after tax and other items. The reason for this poor performance, says Sam Toy, chairman, was intense competition and price cutting. The result: no dividend for 1984. Belts will be worn tighter this year.
by the Hawk
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People:
Stanley Thomson, Sam Toy