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Imo in profit

9th August 1986, Page 8
9th August 1986
Page 8
Page 8, 9th August 1986 — Imo in profit
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Which of the following most accurately describes the problem?

• Iveco has finished its first ten years' trading in the black. During 1985 it turned the previous year's losses of £113 million into a £34 million profit. Its overall vehicle sales last year also increased by almost 10 per cent from 90,322 in 1984 to 99,076.

The company now claims 16 per cent of the European truck market, in second place behind Daimler-Benz. Following the recent signing of the agreement with Ford of Britain (CM, April 19), Iveco Ford Truck is now looking to take a share of over 20 per cent in the UK market over 3.5 tonnes GVW.

lveco's sales in western Europe improved last year by 9.4 per cent, while export sales increased by 10 per cent. However, the company expects a further decline in exports to Middle East and African states.

The 1985 result is "particularly satisfying", according to Iveco, as the market produced "nothing exceptional by way of growth".

Last year Iveco rationalised its research and development and production facilities. It also improved its sales and marketing structure. However, its workforce was trimmed by a further 4 per cent to 34,515.

Iveco expects 1986 to produce similar profits with sales in line with last year's figures. It expects to increase its level of investment (CM, August 2) with the final figure higher than in earlier years.

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