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TIP tightens up business

21st February 1991, Page 16
21st February 1991
Page 16
Page 16, 21st February 1991 — TIP tightens up business
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Which of the following most accurately describes the problem?

• TIP Europe has made further changes to its trailer rental business and warns that half-year profits will be "significantly below last year's level".

Tony Rieger, who runs T1P's trailer interests, says the UK fleet could be cut by a further 1,000 units to 9,000. "Business in the UK is softer than we would want it to be," he says, but he believes that utilisation levels are more in line with budget than at the beginning of the financial year. About 30% of the UK fleet stood idle during 1989/90.

Two rental sites in France have been closed and Rieger expects to move his 12 staff .to smaller offices in Aylesbury in the summer.

TIP Europe has also succeeded in getting its bankers to re-schedule a loan package at a reduced rate of interest.