Market upturn hoists CF profits
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A BIG improvement in the commercial vehicle market has meant that Crane Fruehauf has been able to announce an operating profit of more than half a million pounds for the first six months of the year.
This is against a loss of a quarter of a million pounds for the same period last year and Crane Fruehauf believes that the increase in UK demand will continue to grow during the rest of the year. Mr Leslie Allwood, company chairman, said that the British market remained depressed in the first quarter of 1976 but has since then picked up to levels higher than for the same period in 1975.
Trailer
"We have been able to take full advantage of this situation and achieve a 'substantial increase in turnover compared to last year.
"It is particularly significant that the biggest improvement has taken place in the high volume trailer activity of the Group."
Improvements in profitability started in the second half of 1975 and for the six months, ending June this year ar, operating profit of £536,000 was made. Net profit was £407,000 before tax.
Mr Allwood reported that there is every indication that the improvement in UK demand will continue.