Big Profit Increase for United Transport
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N increase last year of £197,704 in the profits of the United Transport roup is reported by Mr. John H. Watts, hairman. After tax of £755,167 the rout was £2,574.192.
The parent company, United Transort Co., Ltd., showed a profit of 225,881 after a tax of £225,000. A ividend of 12; per cent, and capital onus of Vs per cent. are being paid. Among the group's road transport usinesses, Mounton Holdings, Ltd., ho own Bulwark Transport, Ltd., and 31-m Ancliff and Co., Ltd., increased teir profit after tax by £12,107 to )8,384. Since the purchase of John .ncliff the undertaking has greatly tpanded and is likely to extend still tore.
Keith and Boyle (London), Ltd., used their profit after taxation by £19,963 to £39,003. Good weather helped to increase the profits of Guernsey Railway Co., Ltd., and Guernsey Motors, Ltd., by £10,975 to £28,248 after providing for taxation.
African Transport Co., Ltd., made a record profit of £256,1l5—£104,060 more than in 1958. Mr. Watts expresses confidence in the ultimate future of East Africa, and sees no reason why African Transport Co., Ltd., should not continue to contribute to the country's economic development. In some cases the programme for capital expenditure in the current year is being accelerated. Fleet replacements will cost £180,000.
Rhodesia United Transport, Ltd., also had a good year and raised their net profit after tax by £55,043 to £372,156. A new express coach service is being introduced between East and Central Africa, connecting Salisbury and Nairobi, a distance of 2,000 miles.
Rhodesia United Transport have been investigating the possibility of extending their activities into Swaziland. They have been awarded a large contract for the transport of wood pulp for the new £10m. pulp mill which Courtaulds and the Colonial Development Corporation have built in Swaziland. About 100,000 tons of wood pulp and 6m. gallons of fuel oil will have to be transported annually over a distance of about 100 Jamaica Omnibus Services, Ltd., expanded their activities, but Canadian Motorways, Ltd., again had a disappointing year. Mr. Watts believes, however, that Canadian Motorways will ultimately prove to be a profitable investment.