Running into the red
1st August 1996, Page 8
1st August 1996
Page 8
Page 8, 1st August 1996
— Running into the red
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• Losses at the Central Transport Rental Group soared 750% to 12181m in the year to the end of April after exceptional costs were incurred by financial restructuring.
Now the group plans to con. centrate on its core trailer rental operation despite severe competition that hit pre-Christmas demand for its 23,000 trailers.
Chairman Ian Clubb says the company will buy new trailers as more money becomes available. Sales from continuing operations fell 3% to ..£134.2m but its operating profits from the businesses which remain in the group rose from £21.6m to Its f181m headline losses were increased by £137.6m losses from discontinued businesses including the Rail Division which was sold to its management on 18 June.