Dennis Developments : New Models Coming ?
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I-A• A CRYPTIC reference to future
developments which will require capital is made by Mr. David J. Grimes, chairman of Dennis Bros., Ltd., in his annual statement. He adds, however: "We do not propose to introduce any new models until we are satisfied that they will maintain the Dennis tradition for long service and durability, and will meet the market requirements."
He says the financial year ended on September 30 with a much more satisfactory order book than existed a year earlier. The full benefit of the remission of purchase tax on goods-vehicle chassis and the removal of the threat of renationalization have not yet, however, manifested themselves in the Dennis works. Long delays in deliveries of raw and finished materials prevented the completion of many valuable orders in the latter part of the financial year.
Exports fell away in three sections of the business. One of these was the fireengine department. This decline was not unforeseen, because initial requirements had, in the main, been satisfied and only normal replacement business could be expected.
Mr. Grimes says that every effort will be made to restore export trade, despite increasing foreign competition, lack of credit facilities, and import restrictions. He gives warning that profit margins are likely to 'remain low because of heavy costs and keen competition.
ALREADY IN THE LEAD
HAULIERS could not give a new lead in price reductions because they had been ahead of the field in this respect for several years. Since denationalization road haulage rates had been cut by 25 per cent.
This was stated by Mr. R. B. Brittain, chairman of the Eastern Area of the Road Haulage Association, at Bedford, on Monday, at the Area's annual dinner.
. Mr. Brittain said that the haulage industry was grateful for the removal of purchase tax from vehicle chassis. But this did not mean that rates could be cut. Two wage increases and a third in the course of negotiation had been faced since rates were last increased.