ERF pays for EC rang(
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by John Kendall • ERF Holdings lost £4.44m m the year ended April 1993 on a turnover of £112m, repre: ting a sharp downturn from the revi as year's loss of £1.21m.
The company attributes £2.42m to costs covering the launch of the EC range and ER F's sales expansion in Europe. Total borrowings rose to £4m-£5m during the year while vehicle sales continued to fall, to 1,942— down 234 on the previous year. Exports accounted for 17% of sales.
Despite these figures, results for the second half of the year
reflect an improvement i market with losses of .£ compared with I:2.91m f( first half if the EC range 1 costs are set aside ERF have been £77,000 in the bL
The Society of Manufacturers and Trader diets a growth of around 1 the UK CV market over 151 GVW this year, with sales ing 20,000 units in 1994.
ERF's share of the mark( steady at 10% in 1992, gi fifth place overall. Accord marketing director Rod En six and eight-wheel rigid have risen in recent month in part to business gainec the Leyland Daf co England says ERF now Lu of the six-wheeler market.
A new shop-floor agre has improved productivit 20%, claims ERE Prod capacity is up to 130 vehi week, although current p: tion is running at 53 a week