ERF goes to a shorter week
20th December 1990, Page 10
20th December 1990
Page 10
Page 10, 20th December 1990
— ERF goes to a shorter week
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• ERF is putting its workforce on a four-day week during January to reduce the levels of trucks in stock. It has also shut down a week early for Christmas.
The news comes as ERF's half-year results show a pretax loss of £1.51m, following on from a 1989-90 second-half deficit of £474,000.
The group's turnover has plummeted from £88m for the first half of last year to £55m this year. ERF blames the shortfall on 38% fewer registrations in the 16-38-tonne category.
ERF chairman Peter Foden, speaking to the Financial Times, said that the company has got "lots of cash" and is looking three years ahead. Foden added that "a downturn of 12 months. . . is something we can take in our stride".