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May 9, 2009updated 12 Apr 2017 4:38pm

MAN Finance reports ?7 million pre-tax loss

MAN Finance has reported a pre-tax loss of 7 million in the first quarter of 2009, significantly down from the previous years profit of 2 million. According to the manufacturers quarterly report, its financial services unit recorded a total operating loss of 6 million as a result of higher funding costs and risk provisions. The losses are despite total income from MANs financial services unit rising from 37 million to 46 million in 2009

By Jason T

MAN Finance has reported a pre-tax loss of €7 million in the first quarter of 2009, significantly down from the previous year’s profit of €2 million.

According to the manufacturer’s quarterly report, its financial services unit recorded a total operating loss of €6 million “as a result of higher funding costs and risk provisions”.

The losses are despite total income from MAN’s financial services unit rising from €37 million to €46 million in 2009. In total, MAN Finance contributed €2 million to MAN Group’s operating activity cash flow.

More analysis and comment on MAN Finance will appear in the next issue of Leasing Life (June issue).

Jason T Hesse  

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