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BUSINES NEWS
Substitute
ERF INTENDS to concen its immediate sales effort the home market to col foreign competition, ac ding to chairman managing director F Foden.
Introducing the comp annual report this wee', said: "We must concentra import substitution even means less emphasis on c world markets. However must still look at viable e) markets for future growtf Pre-tax profits hit a re £3.276m, while net profit from 1977's £1.265m to Group sales rose by 46. cent to £56.3m, and ex sales rose by 24.1 per cei £5.177m.
Fending off
FODENS Ltd's pre-tax p for the year ended Marc are up 62 per cent to £2.8i The company forecast year, when a Rolls-R takeover bid was being fo that the figure would e? £2.5m, while turnover from £47.15m to £52.73m.
Home market sales, bol by the new Fleetmaster rin are doing well and are he to fend off competition foreign builders.
Exports are said to be appointing", with slow bt by traditional customers i Middle East and Africa.
The effects of strik( component manufactt have been limited, large] account of the compa policy of manufacturin own axles and other n units at its Sandbach wor
Good bet
UNITED Transport, a Group member, made a tax profit last year £19,878,000 compared w] 1976 figure of £15,723,000.
The net profit of £5,25 was up from 1976's £4,111 United Transport is eng in transport and many turing activities in the Ui Kingdom and Europe, ar freight and passenger tr port in Africa and Austral