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Crown buyout tea

24th August 1989, Page 14
24th August 1989
Page 14
Page 14, 24th August 1989 — Crown buyout tea
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Which of the following most accurately describes the problem?

• Disappointing annual resti for the Government's Crown Suppliers will not deter the management buyout team, keen to buy the transport division when it is privatised the autumn (CM 27 July).

Crown Suppliers returned ; £3.5m pre-tax profit for 1988 on a turnover of £232m, below its financial plan.

But David Balderson, leadi the MBO team, says the inhouse bid will not be affected by the news. "The results mi reflect a decline in customer confidence because of the major reorganisation of the Crown Suppliers," he says. " makes no difference to our intention to bid."