Lotus Cars is a British manufacturer of sports and racing cars, famous for its Esprit, Elan, Europa and Elise sports cars and for the highly successful Team Lotus in Formula 1. Lotus Cars is based at the former site of RAF Hethel, a World War II airfield in Norfolk. The company designs and builds race and production automobiles of light weight and fine handling characteristics. It also owns the engineering consultancy Lotus Engineering, which has facilities in the United Kingdom, United States, Malaysia and China.
Lotus
Lotus Delivers Radical Financial Turnaround
Marking a major milestone in the history of Lotus Group International Limited (LGIL), the company finishes the financial year 2016/17 on plan. Lotus closed the year with positive EBITDA of £2.0m, a major achievement compared to 2015/16 where a £16.3m EBITDA loss was recorded. There has also been a significant improvement in Profit Before Tax. From a £41.2m loss in FY15/16 to a £11.2m loss overall in FY16/17, with the company recording a Profit Before Tax improvement of £10m in the second half of FY16/17 compared to the first six months of the year. Looking ahead, it allows Lotus to concentrate on the next stage of the business’ development, and a return to full year Profit Before Tax for FY17/18.
