Daf and Renault come out on top in City research
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• Daf and Renault have been the best performers in the current European truck industry boom, says a new survey.
Daf has expanded rapidly in the past five years, is the fastest-growing truck maker in Europe and looks set to double profits in 1988. The profit potential of Leyland Daf still has to be unleashed, says the report by City equity research service, the Nomura Research Institute.
Renault too will double its operating profit in 1988 and up its turnover by 15%. In 1984 it lost 10% on every sale, but is now one of Europe's most profitable makers.
Every truck manufacturer has done well this year despite a 25% drop in capacity in the industry since 1983. A sixmonth backlog in orders for most manufacturers should make 1989 healthy, says the Institute.