TB Range records a pre-tax loss last year
12th March 1992, Page 12
12th March 1992
Page 12
Page 12, 12th March 1992
— TB Range records a pre-tax loss last year
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/ The severity of the recession was underlined last week when vehicle rental group TLS Range reported a pre-tax loss of £259,000 for 1991 and no dividend payment.
But the group, which has around 1,200 commercial vehicles, said that it would make a profit in 1992, even if there was no improvement in the economy. It claimed it had performed better than most of its competitors.
Turnover for 1991 was up 13% on the year before to £9.97m, but TLS Range was hit by more expensive vehicle insurance, spares and repairs and by weaker residual commercial vehicle values.