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DAF's expect to bloom in '76
Page 49
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CURRENCY restraints and exchange rate changes were blamed for a financial year in which DAF Trucks (GB) only managed to hold their own while DAF as a whole doubled Its losses last year.
A spokesman for DAF Trucks (GB) told CM: "Currency problems and exchange rate fluctuations played havoc with our profitability during the year but we are looking forward to a much better 1976."
The company imports about Dim to £10m worth of equipment each year and it is expecting its spending power to grow with current trading trends.
DAF Trucks began the year with high stocks in the middle of an economic depression which had caused the European commercial vehicle market to collapse.
They blame the increased losses on under-use of the manpower available and the equipment. Cuts in production are connected with high interest charges incurred with the high stocks to make the losses.
During the year DAF Trucks delivered 11,000 vehicles, 6,345 to EEC customers giving the company a 5.3 per cent market share.