Axial loss hurts T&B
14th March 1996, Page 14
14th March 1996
Page 14
Page 14, 14th March 1996
— Axial loss hurts T&B
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• Tibbett and Britten is likely to reveal later this month that its troubled car transport operation, Axial, has halved group profits.
City analysts waiting for T&B's results for last year are forecasting that an expected
10m loss at Axial will cut group profits to between £10m £12m despite a 10% rise in the group's turnover.
The results, to be posted on 27 March, contrast sharply with 1994, when Axial's £5m profit contributed to a group profit of £ 24m.
Since September T8.E13 has been trying to cut Axial's labour costs and to renegotiate the terms of its largest contract carrying Ford cars.