Hargreaves modernize fleet
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• Hargreaves Transport Ltd, road tanker operator, showed a modest improvement in profit for the year ended March 311972, says the annual report of the Hargreaves Group. "The slackening in trade which was noticeable at the end of last year intensified and costs continued their upward trend of the last few years," states the chairman, Mr Kenneth Hargreaves. "We have modernized our fleet and improved its maintenance so that by increased efficiency much has been done to help in meeting higher costs."
Group profit before taxation rose to £.1,832,000 (1971: £1,765,000). Owing to the slackness in the economy, the report says, profits in commercial vehicle distribution, while good, fell well below the objectives which had been set. However, orders for heavy vehicles were improving.
The accounts show that in transport, profits before taxation amounted to £333,000, and in commercial vehicle building and distribution £197,000 (1962/3 figures .E 1 76,000 and £12,000 respectively).
Quarrying and contracting profits rose to £571,000, Hargreaves Quarries Ltd having a record output.