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It's tough,

29th March 1968, Page 29
29th March 1968
Page 29
Page 29, 29th March 1968 — It's tough,
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Which of the following most accurately describes the problem?

says TDG

• "It has been a hard year. Rising costs, protracted dock strikes and declining traffic cut into revenue. The climate of the 'freeze' and intense competition made rate increases unattainable." These are the words with which the chairman of Transport Development Group Ltd., Mr. Philip S. Henman, opens his annual report for 1967, released this week.

But despite the tough times, TOG emerged with a pre-tax profit of £4,992,000—just a little below 1966's record £5,282,000. Group income for 1967 was £41,670,000 (£41,273,000) and net assets £42,271.000 (£40, 811,000).

The road haulage share of the pre-tax profit was £2,289,000, storage and other transport activities made £2,347,000. A final dividend of 8.5 per cent on Ordinary shares makes 12.5 per cent in all—the same as 1966.

Mr. Henman says great attention had to be given in 1967 to controlling costs and finding more efficient ways of operation but much hard bargaining had followed the PIB report and traffic would now afford a more reasonable return than for some time past. The wisdom of concentrating on specialized traffics and contract hire were underlined, says the chairman, and some general haulage companies found the going hard.

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