Archive : £39 Million Losses Hit Plans To Sell Off Troubled Leyland

DAILY EXPRESS
By David Benson
Motoring Editor

British Leyland lost £39-5 million last year , little comfort to the government determined to privatise the huge car, bus and lorry making company. But the directors claimed last night that their operating losses were still “significantly ” better than the year before when BL lost £66-5 million.

Austin Rover recorded losses of £6 million in the company’s annual report compared to £26 million in 1984.  Sales are up 14 per cent worldwide , 479,500 vehicles a year.

Austin Rover’s accumulated losses have now reached £966 million since the Government stepped in to save the company in 1974.
Losses were also recorded by Leyland Bus and Truck division at £52 million , down on the £61 million loss in 1984.  But Land-Rover , subject of the disputed takeover bid by GM ,made £10 million , £8 million up on 1984.

Profits of £ 6 million were also recorded by the Unipart spares division , but this is down £8 million.

Keith Adams
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