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Thu 07 Jul 2009Ford posts profit after restructuring
Ford Motor posted a $2.3 billion quarterly net profit, mainly due to debt restructuring, and said it was on track to at least break even in 2011, sending its shares up more than 7 per cent.
Ford posted an operating loss for the quarter that was better than analysts expected, excluding a net gain of $2.8 billion from one-time items that included the debt reduction actions, despite reeling global markets that helped push US rivals General Motors and Chrysler into bankruptcy.
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