AT THE HEART OF THE ROAD TRANSPORT INDUSTRY.

Call our Sales Team on 0208 912 2120

£5.4 million pretax profit for TIP

21st February 1987
Page 18
Page 18, 21st February 1987 — £5.4 million pretax profit for TIP
Close
Noticed an error?
If you've noticed an error in this article please click here to report it so we can fix it.

Which of the following most accurately describes the problem?

• TIP Europe made a 25.42 million pre-tax profit in the year to July 31, 1986, on a turnover of £23.64 million.

Chief executive Jim Cleary says the figures cover 10 months of the year when TIP Europe was owned by Gelco of the US, and the two months following the £60 million management buyout.

Cleary is confident that this year's figures will show further gains over last year. "One thing we must not do is predict our performance," he says, "but our business levels are high and I see no reason why we should not meet our forecast this year."

'HP plans to invest 227 million in new equipment in the first three years after the management buyout. Cleary says the company has already spent £10 million of this figure.

Plans to offer shares in TIP to employees are still under consideration says Cleary, but no such scheme will be introduced during the current year.