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Leyland profits up

16th January 1970
Page 36
Page 36, 16th January 1970 — Leyland profits up
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Which of the following most accurately describes the problem?

• British Leyland Motor Corporation Ltd. made a profit after tax for the year ended September 30 1969 of £20,768,000. This was £434,000 more than for the 14 months previously, but these two extra months were stated by BLMC to have had a negligible effect on profits as they covered the holiday period.

Results for the current year's first three months compared unfavourably with last year, due almost entirely to labour troubles and the credit squeeze.