Daf BV ahead at half time
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• Leyland Dafs Dutch-based parent Daf BV made a healthy £16.7 million (Hfl 57.6 million) profit in the six months to the end of June, reflecting strong sales for the British manufacturer in this country and for Daf-badged trucks in Europe.
Daf BV is owned 60% by Daf and 40% by Rover Group, now British Aerospace.
In the whole of 1987 Daf made £19 million profit from a 9% share of the 3.5-tonne-plus truck market in Western Europe, and this share increased in early 1988, the company claims.
In the first half of this year Daf delivered 26,615 vehicles compared with 41,553 in the whole of 1987. Operationg profit, which in 1987 was 2.8% of turnover, was 3.2% in the first six months of 1988.
Daf says the results reinforce its intention to go for a stock market flotation.
In the UK, Leyland Daf is catching up with market leader Iveco Ford in the registration war. Leyland Daf had a 22.5% share compared with Iveco Ford's 24.7% in the year to July, according to the SMMT.
Leyland Dafs parent Daf BV is surging ahead.