ERF turns in profit
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HAPPIER NEWS is coming from ERF, whose chairman, Peter Foden, told shareholders last week that the company made a small profit after interest charges in the first quarter of the current financial year.
He said that ERF was commited to trading at realistic prices, in spite of many of its competitors still offering substantial discounts, and added: "We are seeing some movement towards purchase of vehicles on quality rather than on price." The company reports interest in its 38-tanner range, with a "relatively strong" order book, and predicts further success when its Perkins-engined 16-tonner is launched next month.
Its share of the over-3.5 tonne market in the first seven months of this year fell slightly from three to 2.7 per cent compared with the same period last year, but its loss after tax fell from 19 81/8 2's £5m to £1.5m in 1982/83.