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CTR shows small profit after loss

31st July 1997, Page 12
31st July 1997
Page 12
Page 12, 31st July 1997 — CTR shows small profit after loss
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Which of the following most accurately describes the problem?

• Troubled rental group CTR claims to have turned the corner following year-end results showing a small pre-tax profit. This followed last year's loss of £181m.

Turnover for the year to April 1997 was down 17% to £ 110m, due partly to the strength of sterling, but the modest pre-tax profit of .C5.8m signalled the first time since 1992 that CTR had moved into the black.

Europe's second-largest trailer rental group, with 22,000 trailers in nine countries, CTR was forced into drastic financial restructuring last year to reduce the burden of its interest costs.

The company says it has cut administration costs by £5m in the past yea. It plans to save a further £4m by replacing its current network of 26 fixed depots with trailer points run via partnership and contractingout arrangements.

Following the sale last year of its rail division, CTR has been focusing on its core trailer rental activities.

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