United Transport 21 Years Old
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LATEST news of the progress of United .1.—J Transport Co., Ltd., who celebrate their 21st anniversary this year, is given in their annual report to be presented on August 26 to the shareholders.
In so far as their African interests are concerned, Mr. Guy Bown, chairman, says that last year was not favourable for operation in East Africa. Nevertheless, the African Transport Co., Ltd., a holding company with 13 subsidiaries operating buses, coaches and tankers, distributing vehicles and undertaking hire-purchase finance, suffered a reduction of only £2,446 in their group profit of £444,295.
The net profit, after tax, however, dropped by £46,853 to £121,381. The whole of the profits came from road passenger services, which are operated by six companies.
Rhodesia United Transport, Ltd., another holding company, operating pas
senger and goods services in Rhodesia and Nyasaland, made a profit, after taxation, of £232,720. The group's gross revenue increased from £1,672,000 in 1955 to £3,095,000 in 1957.
The number of subsidiaries is being reduced by amalgamation. In Nyasaland, for instance, four companies are being merged into one with a combined fleet of 240 vehicles. The Rhodesia United Transport companies have nearly 1,000 vehicles.
Central African Road Services, Ltd.. one of the subsidiaries, have just started a goods service between Central Africa and East Africa. The group now operate linking services with terminals 2.700 miles apart.
United Transport's interests in Britain include the Bulwark Transport tanker concern and Keith and Boyle (London). Ltd. The group's 44 subsidiaries last year made a profit, after tax, of £435,241.