Roadships loses nearly a million
Page 15
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DESPITE a forecast of a modest profit by its chairman on January 8 this year, R oadships Ltd, the former Ralph Hilton Transport Services, will report a loss of £984,941 in the year ended July 27 when the shareholders meet on December 17. This pre-tax loss is £95,434 greater than last year.
R oadships' 500-vehicle fleet is book valued at Eli/4 million. During the year, the company disposed of E1.7 m worth of land and buildings and almost E I in worth of vehicles, although it purchased replacement vehicles to the value of E381,000.
The chairman, Mr I.indsay Simpson, in a statement which accompanies the report. says: "The depressing results do not give a fair indication of the amount of effort that has been made and continues to be made to restore the company's health." The board declares its confidence that with the continuing support of ICFC its plans to achieve profitability will succeed.
With effect from January 1, Mr P. J. Hughes, who was appointed to the board on November 15 from Grand Metropolitan Ltd, will take over from Mr Headley J eune as managing director and NI r Jeune will continue as an executive director.