Rider Group profits rise
12th December 1991, Page 18
12th December 1991
Page 18
Page 18, 12th December 1991
— Rider Group profits rise
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Keywords :
Generally Accepted Accounting Principles, Net Profit, Pension, Finance, Business, Business / Finance, Social Issues, Labor
/ Rider Group, with 1,300 buses in Yorkshire, almost doubled its trading profit in 1990/91 to £6.2m on a turnover of 2,83.3m, up by £.8.7m. Group net profit for the year ended 31 March almost trebled to £3.3m.
Cuts in overheads, the support of employees, who are also shareholders, and a reduction in pension fund contributions were the key factors.
But the market this year is down 10%, says Bill Cotham, chairman and managing director.
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Bill Cotham