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Boalloy slashes Marling's profits

12th December 1991
Page 6
Page 6, 12th December 1991 — Boalloy slashes Marling's profits
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Which of the following most accurately describes the problem?

MI Boalloy has plunged into the red, causing a drastic drop in profits for its parent, Marling Industries.

Marling says the Congletonbased bodybuilder's performance has been a "very substantial cause" of the fall in its pretax profit from £2.85m to £593,000 for the half-year to 30 September.

But Peter Held, Marling's chairman, says there is no chance that the group will sell Boalloy. Its shakey financial position is "a fact of life in the transport industry", he says.

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