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GMB in the black
Page 18
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• Greater Manchester Buses made a profit after tax of .276,000 in 1988, compared with a loss of £1.762 million in 1987. Turnover is £110 million. GMB chairman Val Stevens says that the improvements were made without drastic cuts or service losses.
Net asset value of the company is 226.3 million and the results represent a move towards an adequate return on this figure.
RHVB sold
• Robin Hood Vehicle Builders is to change its name later this year, following the purchase of the remaining 51% of shares by Kinnersley Investments last month. Derek Edwards and Geoff Muscroft are now joint managing directors, and BHJ "Robbie" Hood is no longer connected with the company.
The company says it has a full order book and it plans to develop its bus, welfare vehicle and ambulance bodybuilding business, but will cease to body icecream vans.