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BUSINESS NEWS
Better BET
BRITISH and overseas road transport operations helped boost the British Electric Traction Company's 1977/78 profits.
Company chairman Sir John Spencer Wills announced that pre-tax profits of the group rose by 21.2 per cent to a new record of £67m for the year ended March 31.
United Transport, which controls most of the group's road haulage and bus interests, increased its profits before tax by over E4m to £19.88m.
Road tanker operations remained buoyant throughout 1977, but the British heavy haulage sector continued to feel the effects of a decline in the level of domestic activity.
The overseas interests of United Transport, which accounted for three quarters of the increased profits, were helped by substantial improvements in the performance of bus and freight companies in South Africa.
The licences of African Bus Service Pretoria (Pty) have since been sold to another company outside BET for e8m.
Driving force
THE road haulage industry has been the main force behind a 45 per cent rise in Rolls-Royce Motors profits this year.
In the first 24 weeks of this year, pre-tax profits rose from £3.72m to E5.4m, and diesel engine sales up from 03.5m to £21.3m were the main factor.
Output of in-line diesels rose by 20 per cent, while V12s for military application continued to be supplied regularly.