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12th January 1980, Page 7
12th January 1980
Page 7
Page 7, 12th January 1980
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FODENS have revealed that the company almost folded four months ago during the engineering strike.
Chief executive Bill Foden said the Cheshire-based lorry manufacturer was at the very limit of its financial resources in September. Since then it has begun trading profitably again but the losses still remain, and Fodens announced an interim pre-tax loss of £1.70m for the first half of the current financial year, despite sales revenue rising from E23m to £28.5m.
Currently order books are said to be healthy, delivery times improving, and profits are now being made although not nearly enough to offset earlier losses.