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23rd August 1980, Page 6
23rd August 1980
Page 6
Page 6, 23rd August 1980 — Harvester
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INTERNATIONAL HAR VERSTER, Seddon Atkinson's US parent company, has announced an 8.8 per cent reduction in net income during the third quarter to July 31, compared with the same period in the previous year. Sales fell by 12.5 per cent.

However, this third quarter earnings figure of $61.9m (£26.3rn) is a distinct improvement on the first two quarters of 1980 when IH lost $479m (E203.8m) due to a six-month strike.

IH chairman Archie McCarden said that he believed the US recession was approaching its lowest point, but did not expect a rapid recovery of the economy.