BL cv losses
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SEVERELY DEPRESSED col mercial vehicle business help keep BL as a loss-making bu: ness in the first six months the year, but it anticipat breaking even by the end of tl year.
Ironically, the relationship tween BL's car and commerc vehicle performance has versed over the last 10 yea and it is looking to Austin Roy and Jaguar's home sales counter balance the Land ROVi Leyland commercial vehic losses.
Overall, a pre-tax and pre-i terest profit of £1.3m w. achieved in the first half of tf year, compared to a £61.3m lo in the first half of last year, b after interest and tax this was £48.4m loss (1982: £143.4 loss).
The figures for Land Rovl Leyland, which are not brok up into subsidiary compank results (partly to diminish t chance of profitable parts beil sold by the Government), a more stark. A pre-tax and terest loss of £21m in the fi half of last year became £34 this year.
The company points out tf. foreign exchange probler have prevented traditional Thi World export markets from t ing able to buy the usu numbers of vehicles. Normal 66 per cent of sales reven comes from these markets.
The Cars Group turned a £3 loss last year into a £37m pro. and sales revenue Oven climbed by £216m to £1,671 with export revenue totalli £447m. BL claims it contribut 060m to the national balance payments at a time when t motor industry recorded a defi of £1,422m.