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Better outlook for CTR

9th October 1997, Page 13
9th October 1997
Page 13
Page 13, 9th October 1997 — Better outlook for CTR
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Which of the following most accurately describes the problem?

• A £.60m trailer investment programme has helped Central Transport Rental, formerly Tiphook, lift its operating profit by 40% to £2.8m for the three months to the end of July.

Group chairman Ian Clubb says that the UK market "significantly improved" its performance. He expects the proposed takeover of CTR by US giant General Electric Capital to take place "imminently". The company's future is now secure, he says, but when Clubb joined three years ago the outlook was not as bright: "I faced the task of stabilising a group where borrowings had reached an unacceptably high level," he recalls. "This improvement represents the first fruits of our programme of investing in new trailers.