MG profits slump THE INTERIM trading results of Transport Development
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Group Ltd for the six months ended June 30, show that turnover has increased to £61.9m from £59m for the same period last year. After-tax profit at £2.6m compares with £3.6m for the six months ended June 30, 1974.
In the report of the directors, Mr James Duncan, chairman, says increased profits were earned in the half year by the warehousing and cold store companies, but the road haulage companies were affected by the deepening recession.
The wide functional and geographical spread of the Group was, however, a source of much strength in current circumstances. With the economy in its present precarious state, it was not possible to predict the outcome for the year but trading so far had continued at a satisfactory level.
The policy of the Board is to seek growth through acquisition and TDG expect present conditions will lead to increasing opportunities in that direction.