All systems go as ERF booms
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• EFT is surging ahead this year, with vehicle registrations up 55% on the same period last year, and an interim turnover which is 48% ahead of the first-half of 1986.
In the half-year to 31 October ERF increased its pre-tax profits from £62,000 to 21.6 million from a turnover that rose from 235.16 million to 252.06 million.
Chairman Peter Foden is in bullish mood and predicts that ERF's sales boom will continue into the new year: "Customer acceptance of the E Series range has been very encouraging," says Foden, "and with a healthy order book, current production is now at record levels."
Shareholders will receive a 2p dividend on 28 January and the group is on target to beat last year's total turnover of 275.9 million by March 1988. Away from the truck business, ERF plastics is continuing to do well and, says Foden, it is making "acceptable profits in a very competitive business". The plastics division recently began supplying panels to the Renault factories in Dunstable.
Exports appear to be the one blot on the horizon at present and the company admits that it is finding the Middle East market difficult. The group continues to have interests in South Africa.