Detroit-based automaker General Motor Co. anticipates to return back to profit in 2010, Chris Liddell, the company's Chief Financial Officer, said on Wednesday. The company also has its plans to float its public issue during the year.

Liddell, though did not specify any timetable for the public offer that intends to reduce the government's stake in the company, he did mention that GM was in no hurry for the issue.

Post bailout, the US government now has a majority holding in the company amounting to 61 per cent its stake. GM received $50 billion from the government under the bailout scheme.

In his first appearance in front of media as GM's CFO, Liddell said that the progress that he has seen over the last few months was encouraging. Liddell joined GM last year from Microsoft Corp.

Liddell, who is also considered as one of the strongest contenders for GM's present Chief Executive Ed Whitacre, avoided any discussion on the company's succession plans stating that he has been in the company for just seven weeks and it was "way too early" to comment.