Lotus loss lessens after turnaround

Lotus, the sports car company that has been snapped up by China’s Geely, has finally managed to turn a financial corner, according to its annual accounts. Lotus Group reported a rise in revenues and much smaller losses – despite selling fewer cars. Group revenues rose 12.3pc to £89.1m in the year to the end of March 2017, while pre-tax losses were £11.2m, narrowed from £41.2m the last time around.