ERF profits down 15 per cent

7th January 1972, Page 13

7th January 1972

Page 13

Page 13, 7th January 1972 — ERF profits down 15 per cent

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• A 15 per cent fall in net profits for the second half of the financial year is reported by ERF (Holding) Ltd. In the 28 weeks ended October 16 1971 profit before tax amounted to £342,000 (1970: £402,000). Sales came to £5,960,000 (£5,689,000).

"This reduction in profits is mainly due,"

says Mr J. W. Hobbs, company secretary, "to a fall-off in vehicle sales combined with pressure on margins, and in my view is attributable to the present state of the economy.

ERF announced an interim dividend of 9 per cent.