Report: 20% UK Tyre Companies Are Loss Making

1 in 5 companies in the UK Tyre Manufacturers & Distributors industry are now making a loss making according to analysts at Plimsoll Publishing. The report’s author, David Pattison, commented: “Increasingly we are seeing companies making a loss for the first time in their history and I think they can rightly claim they are victims of difficult trading conditions.”

However, 30 companies are reportedly making a loss for the second and even third year running. According to Plimsoll, “these companies are either blatantly undercutting the rest of the market to enhance or maintain market share or, more likely, have delayed making…painful decision[s]…No one wants to trim costs, lay off staff, cancel dividend payments and the like but continuing on regardless is fast becoming unviable.”

However, 30 companies are reportedly making a loss for the second and even third year running. According to Plimsoll, “these companies are either blatantly undercutting the rest of the market to enhance or maintain market share or, more likely, have delayed making…painful decision[s]…No one wants to trim costs, lay off staff, cancel dividend payments and the like but continuing on regardless is fast becoming unviable.”