TDG ups profit
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BUSINESS is recovering for the Transport Development Group's British and overseas haulage activities, with turnover up by 12 per cent in the first half of this year.
Figures just announced by the private sector holding group show that turnover in the year to June 30 was £197.4m, up from £176.3m in the same period last year and £191.3m in the second half of last year.
Operating profit was £13.2m, against £11.8m in the first half of 1983, and £14.5m in the second half. Pre-tax profit was £9.9m, against £9.2m in the first half of 1983 and £11.8m in the second half.
An interim dividend of 1.6p per share 11983: 1.5p) has been declared.
The group's United Kingdom activities boosted turnover from £109.1m in the first half of 1983 to £118.6m, with profit up from £8.2m to £8.6m.
Road haulage turnover was up from £58.1m to £65.2m, but initial losses incurred by Independent Express, the express parcels company started last year with a 50 per cent TDG stake, reduced haulage profits from £3m to £2.5m.
According to TDG, Independent Express is "operating well, but remains some way from profit".
Storage profits in the UK climbed from E4.2m to £4.6m, with turnover up from £19.6m to £21.1m; plant hire and other transport services rose from £506,000 profit to £751,000 on reduced turnover, down from £9.9m to £9.7m; and reinforcement and exhibitions profits were up from £445,000 to £718,000 on turnover up from £21.5m to £22.6m.
Overseas profits climbed from £3.7m on £67.2m turnover to £4.6m on £78.8m turnover.