Rover Group P.L.C., aided in part by American sales of its Sterling car, said it reduced its after-tax loss by 80 percent in the first half of the year from a year earlier.
The state-owned auto maker said today it lost $:42 million, or the equivalent of about $66 million at present exchange rates, in the year’s first six months, compared with a loss of $:204.5 million ($321 million) in the first half of 1986.
Group losses before interest and taxation were $:7.3 million ($11 million), compared with $:71.1 million ($112 million) in the period a year ago.
Revenue rose 26 percent, to $:1.58 billion ($2.5 billion), from $:1.25 billion ($2 billion). The group’s production rose to 246,000 vehicles this year from 242,000 a year ago, while sales were up to 259,000 vehicles from 233,000.
Is the Editor of the Parkers website and price guide, formerly editor of Classic Car Weekly, and launch editor/creator of Modern Classics magazine. Has contributed to various motoring titles including Octane, Practical Classics, Evo, Honest John, CAR magazine, Autocar, Pistonheads, Diesel Car, Practical Performance Car, Performance French Car, Car Mechanics, Jaguar World Monthly, MG Enthusiast, Modern MINI, Practical Classics, Fifth Gear Website, Radio 4, and the the Motoring Independent...
Likes 'conditionally challenged' motors and taking them on unfeasible adventures all across Europe.