Reading between the lines they are getting more profitable per unit despite sales being slightly down and adjusting profits for a revaluation of stock denominated in Brazilian reals and Thai Bhat......both of which have fluctuated quite a lot over the last year. I remember being intrigued by the idea business accounts are ‘a matter of opinion’ but the price you put on something like stock value or unpaid debts etc., can obscure the underlying truth about trading position. Accountants can be even tricksier than lawyers and deceived themselves! Carrillion anyone?!
Global figures for last year.......consumer confidence is slackening everywhere and Europe likely heading into recession. Brexit is the least of it and probably a bare 10% of total sales.
There are numerous reasons for car & motorcycle sales being down, not brexit, and an interesting one that came up is buyers getting pissed that their premium british brand isn't made in the UK . LRJ have lost lots of customers, especially in China, as a result of this as buyers don't like their premium british brand made elsewhere, even in their own country. Triumph sales are equally affected by this as are Harley Davidson, by building in Thailand. Something for Bloor to think about.
