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Tozer's profits fall £45m

5th June 1982, Page 5
5th June 1982
Page 5
Page 5, 5th June 1982 — Tozer's profits fall £45m
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TOZER Kemsley & Millbourn (Holdings) which recently sold its 37 per cent capital share of MAN-VW to Lonrho-owned VAG (UK) Ltd, has announced a pre-tax profit of Elm for 1981.

This is considerably down on the previous year's figure of £5.5m.

Volume of business amounted to E1.3bn, a slight decrease on the 1980 total of El .35bn.

A separate agreement has been decided between TKM and the Hong-Kong and Shanghai Banking Corporation in which HSBC will acquire the International Trade Finance Division of TKM Holdings.

TKM International made a pretax profit of 12.7m for 1981 and had net assets of 19.8m.


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