GM Holden Reports 2005 Loss; Predicts Same for 2006

GM Holden Ltd. records an A$144 million ($113.4 million) after-tax loss for 2005 and is forecasting a 2006 deficit as well, The Melbourne Age newspaper reports.

However, Chairman and Managing director Denny Mooney says he expects GM Holden to return to profitability this year, as the auto maker sees returns from investments in local operations and increasing export trade.

The 2005 result was affected by a number of one-off costs, GM Holden says, including A$89 million ...