UK's MG Rover posts year loss as sales decline

Newswire

LONDON, Oct 28 (Reuters) - Struggling British carmaker MG Rover posted an annual pretax loss of 77 million pounds ($141 million) on Thursday after vehicle sales continued to decline amid tough competition. MG Rover, which recorded its fourth consecutive loss since being sold for 10 pounds four years ago, said the 2003 loss had narrowed from 95 million pounds the previous year, and it expected to break even in 2005. MG Rover was sold by Germany's BMW AG and is now owned by Britain's ...

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