In a difficult year for the motor industry the Rover company’s sales were marginally higher than for the previous 12 months.
These sales, says Mr S. B. Wilks, the chairman, in his annual report, would have been appreciably bettor had it not been for the labour troubles experienced by some of their suppliers during the year.
Loss of output due to stoppages also contributed to the higher costs which as already announced resulted in a 19 per cent drop in earnings before tax. In common with the rest of the motor industry Rover is engaged on a long-term expansion programme. This will require £10,500,000. of which £3,800,000 is committed for the current year. Of net current assets totalling about £9m., over £6m. is liquid.
Editor and creator AROnline at AROnline
Created www.austin-rover.co.uk in 2001 and built it up to become the world's foremost reference source for all things BMC, Leyland and Rover Group, before renaming it AROnline in 2007.
Is the Editor of the Parkers website and price guide, formerly editor of Classic Car Weekly, and launch editor/creator of Modern Classics magazine. Has contributed to various motoring titles including Octane, Practical Classics, Evo, Honest John, CAR magazine, Autocar, Pistonheads, Diesel Car, Practical Performance Car, Performance French Car, Car Mechanics, Jaguar World Monthly, MG Enthusiast, Modern MINI, Practical Classics, Fifth Gear Website, Radio 4, and the the Motoring Independent...
Likes 'conditionally challenged' motors and taking them on unfeasible adventures all across Europe.
Is the Editor of the Parkers website and price guide, formerly editor of Classic Car Weekly, and launch editor/creator of Modern Classics magazine. Has contributed to various motoring titles including Octane, Practical Classics, Evo, Honest John, CAR magazine, Autocar, Pistonheads, Diesel Car, Practical Performance Car, Performance French Car, Car Mechanics, Jaguar World Monthly, MG Enthusiast, Modern MINI, Practical Classics, Fifth Gear Website, Radio 4, and the the Motoring Independent...
Likes 'conditionally challenged' motors and taking them on unfeasible adventures all across Europe.
Latest posts by Keith Adams (see all)
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