The pound's strong showing against the German mark last week has given him the chance to reduce base landing rates.
The company blamed the strong British pound and high inflation for its problems.
"This Government believes in a strong pound, which still remains our best hope for keeping unemployment figures down."
The strong pound means Americans want to sell here.
The surprise for next year will be a somewhat stronger pound.
Here's a guy, 6-foot-4, more than 200 pounds, strong as an ox, with control of what he's doing.
Not as strong as his right, but almost - nearly forty-five pounds.
"I felt real strong at 154 pounds because I could eat."
The cost of a strong pound "has got to be found in reduced profits."
A strong pound has been seen as essential if inflation is to be kept low.