Fodensf slip
19th July 1974, Page 26
19th July 1974
Page 26
Page 26, 19th July 1974
— Fodensf slip
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A FALL in profits for Fodens in the year ended March 1974 has been reported. Pretax profits fell £843,333 to £300,673 while turnover jumped £5.37m to £22.64m. The board blames the combination of the three-day week, price controls, and an unprecedented rate of inflation at a time of major reorganization.
At present the company in the middle of ar expansion programmt designed to raise pro. duction from its current 5f to 60 trucks a week to 120.
Management accounts fot the first quarter of 1974-7: show a satisfactory return tc profitability, says the boar( of directors.