Ford’s pre-tax profits drop by 84%

REVENUES at the Irish arm of motor giant Ford plunged by more than €205 million last year as pre-tax profits decreased sharply by 84.

Managing director of Henry Ford & Son, Eddie Murphy, said yesterday that the drop in revenues last year brought the company back 25 years in terms of comparable revenues.

Mr Murphy — who is also president of the Society of the Irish Motor Industry (SIMI) — that the company’s sales in Ireland in 2010 “have rebounded, but this is from a 25-year low”.