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Freightliners yes to private investment
Page 6
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FREIGHTLINERS returned a E400,000 loss over the first six months of this year. Managing director Cyril Bleasdale blamed the haulage strike for much of the company's problem.
He told questioners that he would welcome the introduction of private investment on the same sort of terms as the National Freight Corporation — former owners of Freightliners.
Mr Bleasdale said that Freightliners had suffered more than anyone else from the drivers strike — in the first eight weeks of the year, revenue had been E3m down on estimated figures and the company had lost £1.6m in the eight weeks.
But he said that in the first week of June a new record for the number of containers handled had been set at 18,500 containers during the week.
Mr Bleasdale said that the company would probably make a Elm trading profit during the year despite the losses, and he put this down to the increasing use of the corapany by new customers.
"No doubt one of the reasons is a fear of further energy crises, shortages of diesel fuel and increasing road regulations," he said. Figures for the middle of this year show that the volume of goods handled is seven per cent up on the same period last year.
Mr Bleasdale claimed that Freightliners used only half the energy 'of a road haulier over a 400-mile road journey — and there are hopes of bringing the figure down to 200 miles in the future. He said that British Rail, as the new owners of Freightliners, had lived up to its promise of "no interference" in the running of the company.
But the company is faced with a situation in which many of its assets are worn out, said Mr Bleasdale, and it is because of this that he would welcome private investment.
"With the prospectus that we could issue, we must be a good deal but our track record • is not so good," he added.