Leyland in the black

24th September 1976, Page 99

24th September 1976

Page 99

Page 99, 24th September 1976 — Leyland in the black

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LEYLAND has announced a £44.3m profit pre tax for the first nine months of this year compared with a loss of £76.1m for the whole of last year — and it says that the amount could have been more.

The company blames strikes for interrupting production and deliveries to dealers, but it has not yet separated the figures for the car division and Truck and Bus.

The figures take into account £25m which the company has paid in loan charges and another £43m in depreciation. Leyland has also accounted for another £16m in tax on profits made by foreign subsidiaries.

Production is already on schedule to meet last year's figures. ?he 1975 figures were 845,00!1 units worth £1,868m; so far this year Leyland has produced 577,000 units worth £1,595m. It has exported £589m worth 30 far this year — the same as for the whole of last year.

Leyland blames the figures on strikes during the year and it says that without disruptions it would have achieved much better results.

The main increase in the profit figure is thought to have come form the foreign subsi diary companies and the increasing overseas sales.

But it says that without disruption of production it is certain that fewer foreignbuilt vehicles would have been sold in Britain last year.