United heads for US
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UNITED Transport International, the BET Group's road transport holding company, plans to increase its European and United States business.
In his annual report for 1984/85, UTI chairman Paul Rudder said: "We believe we should increase our investment base in Europe and in the USA as well as utilising our considerable skills in developing countries," He added that the group should "also seek a route to be more active" in the Pacific Basin.
The necessity for the group to find new business areas is underlined by problems experienced in South Africa, where cyclones and drought compounded the effects of economic recession.
The civil unrest, which has become worse since UTI's financial year ended on March 31, has had an especially detrimental effect on some of the group's bus subsidiaries. By contrast, the two United States businesses—Indian River Transport and Distribution Systems Inc — represent what UTI describes as a "sound base" for future development.
Further expansion is likely in the United Kingdom and Europe, following the rationalisation of the business into unit load, tanker, heavy haulage, distribution, contract hire and freight forwarding. "The base on wdlich we will build future growth is secure and we now seek further investment opportunities in those specialist sectors of the transport industry in which United Transport operates."
For the 15 months to March 31 last, UTI increased its profit before tax from £25.6 million in the previous 12 months to £28.9 million. Turnover was up from 3:376.6 million to £509.8 million.