TDG's `excellent' first-half results
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• A 37% increase in profits by the Transport Development Group in the first six months of 1986 reflects favourable conditions in the road transport market, says company chairman Sir James Duncan.
TOG describes the results from its UK road haulage operations as excellent, with turnover increasing by £4 million to £78 million for the first six months of the year, and profit up from £2.85 million in the same period last year to £4.67 million this year.
However, there were signs towards the end of the period that there is a slow down in road transport business. Sir James warns, "It will be difficult for profits in the second six months of 1986 to match the growth shown by the first six months. Nonetheless, provided the UK economy remains firm, there are grounds for optimism about the outcome for the year as a whole." Overall, turnover for the first six months of the year reached £248 million, compared with £229 million for the same period in 1985. Operating profit rose from £15.784 million to £19.532 million.
Overseas subsidiaries in Holland, France and the United States all performed well, but the weakness of the Australian economy and the depreciation of the Australian dollar led to a fall in profit in A ustralia.