JV With Ford Cuts Russian Automaker Sollers's Profit

Newswire

* Hit by losses at joint venture with Ford * Revenue falls 14 pct year-on-year (Adds details, company comment, context) MOSCOW, Aug 29 (Reuters) - Russian auto maker Sollers on Friday reported a slump in first-half net profit as a sharp economic slowdown contributed to losses at its joint venture with Ford. Sollers said it had made 256 million roubles ($7 million) in net profit in the first six months of the year, compared to 1.7 billion roubles a year ago. Its Ford joint venture, in which ...

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Jul 26, 2016
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