Barr and Wallace Arnold Growth
Page 47
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lUIR. J. M. BARR, chairman of Barr IVI and Wallace Arnold Trust, denied in his annual report that the Becching rail proposals will be a considerable help to the company. He said: "Some of the circumstances which have caused the decline of rail services are common to road transport. The report is a realistic attempt to come to terms with modern trading conditions ".
Taken generally, said Mr. Barr, the 'ear was a progressive one with growth coming mainly from within as opposed to acquisitions. The inclusive holiday section made both a greater total and a higher proportionate contribution in 1962 than previously, but other sections of the coach business had a difficult time against increased private car competition and bad weather.
Mr. Barr said that margins are tending to decrease but he thought that the current year would show improved trading.
Group net profit for 1962 was £99,026 compared with £93,112 in the previous year.