ERF loss
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ERF MADE a trading loss before tax of £3.272m for the year ended April 3, 1982. This compares with a £4.219m loss for the preceding year. Sales totalled £52.345m, compared with £55.752m.
A loss of £1.4m occurred with the closing of Cheshire Fire Engineering. This bought the total loss for 1981/82 to £4.884m as compared with b=1.967m.
The company blames the depressed UK market and strong competition from overseas for the disappointing results. However, there was a pick-up in the market during the first quarter of 1982 and there was a marked increase in vehicle deliveries, orders and parts sales. The company now has a three month order book.
ERF chairman and managing director Peter Foden said there is a "pent-up" demand for vehicles in the UK which is being frustrated by Government indecision on the heavier lorry.