Fleet News

BSM profits fall 50%

BSM Group, which includes BSM Fleet Training, has reported a near 50% drop in pre-tax profits to £1.51 million (1996: £2.92 million) for the first six months of 1997. The drop, follows a warning from company bosses earlier this year that pre-tax profits for the first half of 1997 were likely to be around half of those achieved in the first half of 1996 due to changes in the driving test. Turnover in the six month dropped 8% to £12.66 million (1996: £13.78 million).

BSM Group chief executive Richard Glover said: 'This was a very difficult trading period disrupted by the new requirement for learners to pass their theory test before booking their practical examination. The initial disruption to demand patterns has now more or less worked itself through. The return to more normal trading and our investment in innovative new technologies to assist training leads us to be much more optimistic about future training.'

BSM Fleet Training continued to develop opportunities in the fleet sector, according to Glover, while the company's accident repair business, MCR, also continued to expand.

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