Ford Australia Says 2005 Net Profit Fell 23%

Ford Motor Co. of Australia Ltd. reports 2005 net profit after taxes fell 23% to A$148.2 million ($110.5 million).

The result was calculated according to the new Australian International Financial Reporting Standards introduced last year.

However, the auto maker’s previously reported 2004 profit of A$185.6 million ($138.37 million) was recalculated under the new system and now stands at ...