Ford reports profit spurt as US sales rebound

<p>Ford has reported that its US sales have jumped, boosting the firm’s profits.</p>

Ford shares have made gains on the Paris Stock Exchange this afternoon (January 29th), after the carmaker announced that its profits for the fourth quarter beat market expectations.

The US automotive manufacturer reported that its earnings after tax for the three-month period were $1.6 billion (£1 billion) – which is a 55 per cent jump compared to the October-December 2011 period.

Ford boasted that its North America arm had its most profitable fourth quarter and year since it began recording the region's performance in 2000. Indeed, revenues increased by five per cent overall and 13 per cent for the continent alone.

But the company cautioned that 2013 losses in its Europe business would be greater than first thought – standing at $2 billion.

At 14:55 GMT on the Paris Stock Exchange, Ford shares rose by 2.5 per cent to a unit value of €10.25, sliding from their 52-week high of €10.76, which it achieved last week.

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