Breaking News: £2m Profit for Lotus
Hethel firm defies economic downturn to record a profit
2-Eleven selling welll
Mike Kimberley, chief executive for Lotus Group International Ltd and Group Lotus plc said: ‘These results are a tremendous turnaround achievement for Lotus. I would like to thank all Lotus staff for their exceptional dedication and hard work to ensure the effective turn-around of the business.
‘We are also tracking our strategic five year plan which enables Lotus to deliver an exciting new range of vehicles, develop and sell new advanced technologies through our extensive global operations and engineering client base and ultimately put Lotus on a greener and firmer footing and a consistently profitable commercial basis for the future.’
Investment in Research and Development and new products has risen by 95% at Lotus. This investment includes advanced engineering research and development into future technologies and capitalised R&D into new product development including the new Lotus Evora and updates to the current Lotus line up of the Elise, Exige, Europa and 2-Eleven. The firm said that the ‘exceptional success’ of the 2-Eleven track car required production to be increased and transferred from Lotus Sport to the main Lotus assembly facility at Hethel.
I went for a job interview there back in '97 (didn't get it) and am pleased to see they have survived withouth my ptentially invaluable contributions!
Not quite sure why there still appears to be legal entity called "Group Lotus plc" in existence though as the shares haven't been publicly quoted for many years....
and very impressive given they've been ploughing money into the evora development and there hasn't been a significant elise restyle since 2001! Unless the new elise S's have been flying out of the showrooms I imagine most of the 2m profit has come from the rejuvenated engineering arm. You have to wonder how they let this side of the business slip away.
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