Holden returns to profit in tough times

Holden has posted a $128.2 million profit for 2015 – its first in five years – but added that making cars in Australia was still dragging the company’s profitability down.

The result is a turnaround from the $255 million loss reported in 2014 and a record $558.3 million loss in 2013, all associated with its decision to quit manufacturing in Australia in 2018. Shutting the Port Melbourne engine plant and the Elizabeth assembly line is costing the carmaker about $600 million.