TDG's profits down by 8%
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• Transport Development Group profits are down 8% chiefly because of a disappointing performance from its overseas subsidiaries.
TDG's year-end results show pre-tax profit falling from .241.5m to 238.2m on a turnover down 212.5m to 2580.6m.
Chief executive Alan Cole declares himself "reasonably content" with the UK division's results. Talking about his offensive on UK problem companies, he says: "All have now been tackled. All are out of intensive care although some are still in hospital and some have even been buried."
Cole is planning to sell two of three US companies, where profits fell by more than 50%.