MG Motor UK slashes loss in 2010

    Share
    avatar
    patpending

    Number of posts : 3005
    Points : 3948
    Reputation : 53
    Registration date : 2009-02-05
    Location : Surrey

    MG Motor UK slashes loss in 2010

    Post by patpending on Wed Jun 22, 2011 6:51 am

    Director Hao Wang said in the annual report for 2010: “The company generated a turnover of £11,385,000 (2009 £6,887,000) in 2010. The increase in turnover was mainly due to the increased level of sales of automotive parts to group companies in China.

    “The loss after tax amounted to £392,000 (2009 £12,737,000). The significant reduction was due to the increased sale of parts and service.”

    http://www.birminghammail.net/news/top-stories/2011/06/16/mg-motor-uk-cuts-losses-dramatically-97319-28885900/

    Transfer charging, I take it - are the engineers and designers employees of MG Motor UK? if not, what do MG Motor have that they can sell? Parts? what parts?

    I take it that Hao Wang we know as William..
    avatar
    Windy
    Admin

    Number of posts : 3322
    Points : 4244
    Reputation : 165
    Registration date : 2009-02-02

    Re: MG Motor UK slashes loss in 2010

    Post by Windy on Wed Jun 22, 2011 7:23 am

    patpending wrote:
    Director Hao Wang said in the annual report for 2010: “The company generated a turnover of £11,385,000 (2009 £6,887,000) in 2010. The increase in turnover was mainly due to the increased level of sales of automotive parts to group companies in China.

    “The loss after tax amounted to £392,000 (2009 £12,737,000). The significant reduction was due to the increased sale of parts and service.”

    http://www.birminghammail.net/news/top-stories/2011/06/16/mg-motor-uk-cuts-losses-dramatically-97319-28885900/

    Transfer charging, I take it - are the engineers and designers employees of MG Motor UK? if not, what do MG Motor have that they can sell? Parts? what parts?

    I take it that Hao Wang we know as William..
    The engineers and designers will mainly be SMTC employees. MG UK is about production. I guess SAIC are buying UK sourced parts through MG Motor UK, maybe even EU sourced parts.

    I've never seen William called Hao, but it is quite likely that is his Chinese name, unless there are two directors called Wang...
    avatar
    patpending

    Number of posts : 3005
    Points : 3948
    Reputation : 53
    Registration date : 2009-02-05
    Location : Surrey

    Re: MG Motor UK slashes loss in 2010

    Post by patpending on Wed Jun 22, 2011 7:51 am

    Windy wrote:The engineers and designers will mainly be SMTC employees. MG UK is about production.
    I had thought so too. So not a lot of "people" at MG Motor to sell a "service"?

    I guess SAIC are buying UK sourced parts through MG Motor UK, maybe even EU sourced parts.
    I wonder where multipart comes into it?

    I hope MG Motor have a good taxman...

    Sponsored content

    Re: MG Motor UK slashes loss in 2010

    Post by Sponsored content


      Current date/time is Mon Aug 21, 2017 5:13 am