Rider shares riding high
18th January 1990, Page 20
18th January 1990
Page 20
Page 20, 18th January 1990
— Rider shares riding high
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• Shares in Yorkshire Rider have doubled in value to 10p each following good operating results for 1988/89.
It was the first Passenger Transport Authority company sold to its employees, back in October 1988, when staff were issued with free 5p shares.
Rider turned in a trading profit of £2.12 million on a turnover of £66m in the previous period, which after interest and profit sharing payments, came down to a £1.5m net profit.
The acquisition of West Yorkshire Road Car should further enhance its value.
Another share revaluation is due this month, prior to the second free issue of 125 shares to each of Rider's 3,500 staff.
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