Plaxton profits plummet
30th May 1981, Page 25
30th May 1981
Page 25
Page 25, 30th May 1981
— Plaxton profits plummet
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SHARP drop in profits, which the company attributes to the mtinuing depression in the coach industry, is reported by Plaxtons Scarborough.
Though orders are still being received by the coach and bus xlybuilding division, they are not sufficient to avoid short-time orking.
According to chairman F. W. Plaxton, the short and medium term itlook shows little signs of improving and Plaxtons have had to cut eir workforce.
Unaudited results from the Plaxtons Group for the 26 weeks endg March 29 show a profit of £145,000 which, after adding redun3ncy payments of £413,000, becomes a trading loss.
The directors are confident, though, that the Group is strong -lough to emerge from the recession in "good shape to progress in ture years".