Margins chipped but profit rising
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ALAN B. FOX, lveco UK's executive, was in an optimistic mood, although he complained that profit margins were "taking a knock" because of sterling's weakness. "Discounting," which was "still patchy, "also contributed to reduced margins, but with lveco registrations 27.5 per cent higher than in the corresponding period last year and a "greater sales mix," last year's profit of £2.7m was likely to be exceeded. Now seems to be the time to buy, because, Alan declared, "trucks will never be as cheap again."
I doubt whether the amphibian that Ivaco built for the Cousteau Society's 13month expedition up the Amazon was cheap. It can carry 48 people and a variety of heavy gear, and is claimed to clock up 62mph at three-quarters maximum speed on land and nearly 7mph In water, This might be the answer to some of London Regional Transport's problems with traffic congestion.