ANNUAL REPORT SHOWS PROFITS FOR SIX YEARS
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OF OVER k9om.
The results for r 968 reflect not only the ordinary difficulties of the competitive world of transport during that year, and the additional difficulties arising out of national ownership in such circumstances, but also the special difficulties of any concern that is working under virtual sentence of dismemberment—a situation in which the Transport Holding Company has spent three long years, and which, given also the accompanying political controversy and inhibition, is not conducive to the proper and profitable development of a business undertaking.
The results for I 968—a profit of k 16.3m.—and for the six years of the Holding Company's operations—profits of L9o. i in.—though per haps not unsatisfactory, are less than might have been achieved within a different constitution and environment.
Following the Transport Act 1968, the freight and passenger-interests of the Transport Holding Company were transferred on 1st January 1969 to the National Freight Corporation, the National Bus Company and the Scottish Transport Group. In a comment on the future, and looking back on the lessons of the past, the Report makes an urgent plea for a period of organisational stability in the field of transport legislation. Given that essential stability, the Holding Company sees no reason to doubt the future success of the bodies which now follow it.