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Record Turnover for Fodens

4th August 1961, Page 26
4th August 1961
Page 26
Page 26, 4th August 1961 — Record Turnover for Fodens
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Which of the following most accurately describes the problem?

A RECORDturnover, at £5,641,000,

was achieved by Fodens, Ltd„ in the year to April 1. last. Net profit for the year was £197,290, against £154,959 for the previous year.

In his statement accompanying the annual accounts. Mr, Albert Stubbs, chairman, reports that the Foden order book is the longest on record and they are almost fully extended to keep deliveries within reason. "When labour and material costs are steadily on the increase," says Mr. Stubbs, "it is difficult, even with increased productivity, to keep overall costs at a level in relation to selling prices which will hold profit margins steady."

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