Dennis profit shoots up
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• The engineering subsidiary of Hestair, which includes Dennis Eagle, Dennis Specialist Vehicles and Hestair Duple, recorded a profit of £2,275 million last year (£870,000 the previous year) on a turnover down from £72 million in 1984 to 258.3 million last year.
Massive reorganisation on the vehicle division, including a 45 per cent reduction in production floor space and the loss of 600 jobs, has resulted in a .£3 million saving in overheads.
Turnover is down because of increased specialisation in the company's traditional markets of buses, coaches, dustcarts and fire engine chassis.
Hestair group chairman, David Hargreaves, says that the reorganisation of the vehicle companies within the group will lead to improved results, particularly in the refuse vehicle business, where order levels and margins are satisfactory.
In the bus and coach sector market conditions remain unsatisfactory, says Hargreaves.