Companies

Lex: Daimler

Daimler shocked markets on Thursday by posting a worse-than-expected net loss for 2009 and axing its dividend, as the German premium carmaker vowed to return to growth and profit this year. The Stuttgart-based car and truck maker sent its share price as much as 9 per cent lower after it announced a net loss of E2.6bn ($3.5bn) for the past year. Analysts had expected a much lower net loss of about E2bn, according to a poll conducted by Reuters. The result marked the first loss in nine years, following a profit of E1.41bn the year before. Neil Buckley analyses the results from the German carmaker.