NEWSBRIEF
Page 7
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• Renault Vehicules Industriels — Renault's truck building subsidiary — is still having money troubles. It returned a loss of FFr 1.96bn (2161 million) in 1985 although this was still better than its previous Hi. 2.7bn (2257 million) loss recorded in 1984.
Despite efforts to restructure its business, progress is proving slow. RV1 was the third biggest manufacturer in Western Europe last year behind Daimler-Benz and lveco, producing some 40,000 vehicles.
Its loss per vehicle has fallen from 27,000 to 24,025.
• P&O's European Transport business helped contribute towards increased group profits last year.
Pre-tax group profits last year were up from 1984's 290.9 million to 2128.6 million; after tax, the increase was from 260.2 million to 290.7 million.
The service industries sector, which includes European Transport, increased its profit from 226.6 million to 234.4 million. Profits in 1984 were affected by strike action.
These are the first results published since P&O and Sterling Guarantee Trust were merged in February last year.
• Annual tests for HGVs, PSVs and PSV initial testing have been increased.
The Department of Transport says that the increases are well below the rate of inflation because of improved efficiency — including the present moving of vehicle inspectorate staff out of the nine traffic areas into 53 new districts.
The basic goods vehicle annual test fee is to rise from 223 to 223.50, with re-tests rising from 211.50 to 212. The trailer test is also increasing by 50p to 213, and the trailer re-test goes up from the present 26.50 to 27.