New range coming from profitable ERF
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A NEW RANGE of ERF lorries is being developed for the late Eighties, company chairman Peter Foden revealed when he announced that ERF Holdings is .back on track to be profitable.
The annual results show that ERF made a 1444,000 loss on 172.8m turnover in the year to March 30, compared with a profit of £421,000 on .1.60.7m turnover in 1983/84.
But the trading loss arises from a £1.16m exchange loss in the first half of the year, and without it the company would have been profitable.
But Mr Foden has presented an optimistic view of the future, saying a new range of vehicles will be introduced gradually over the next two or three years. This, he said, would create job opportunities in Britain and overseas.
ERF has a South African subsidiary, and the annual results state that substantial improvements in sales were achieved in Africa and the Middle East.