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UTC profits see-saw

6th August 1971, Page 27
6th August 1971
Page 27
Page 27, 6th August 1971 — UTC profits see-saw
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Which of the following most accurately describes the problem?

• United Transport Company chairman, Mr D. Lloyd-Jones, forecast this week that the profits for 1971 would be not less than the £6.25m achieved in 1970. It is anticipated that the UK profits will show some improvement but that this will be counteracted by a reduction in overseas profits.

United Transport Overseas is at present endeavouring to negotiate the sale to the Mombasa City Council one third of the shares in Kenya Bus Services. It is reported that the Uganda government has repealed legislation which would have given it the right of compulsory purchase of part of UTO's interests there.

The decline in the company's European activities has been reversed and there are already signs of improvement this year.

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