Harley cuts losses, shares rise

The future's looking bright for american iron

HARLEY-DAVIDSON has sharply cut its losses for the fourth quarter of 2010, causing shares to rise over 8% as investors renew confidence in the brand.

Had the company not have had to to repay almost £53m in loans, it would have recorded a profit which gave rise to added investor confidence.

Harley made a net loss of £29.6m for fourth quarter compared with a £137m loss during the same period last year. In 2010 Harley's global motorcycle sales fell 8.5% to 222,110 units. However, the volume of motorcycles Harley shipped to dealers rose by 24% in the last quarter compared to the same period in 2009 as dealers look to replenish stock.

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