OUTSTANDINGS FALL £7.25m
Interim Report By LA.C. Outstandings of I.A.C. (Holdings), Ltd. (formerly Industrial Acceptance Holdings, Ltd.) fell by £ 7.25 m between December 31 and June 30, state directors in an interim report. Consolidated profits of the group for the June half-year showed a slight increase over those for the June, 1960. period, directors say. The volume of business handled by the group showed a reduction from the corresponding 1960 period, they state. Reduced sales of new motor vehicles were the main reason for the reduction in both volume and outstandings. Interim Unchanged Interim dividend for the half-year is unchanged at 8 1-3 per cent. (5d a 5s share). Total payment for 1959-60 was 16 2-3 per cent. At June 30, the amount of I.A.C. group liabilities due to mature within two years was £24.2m, consisting of £ 18.3 m within one year and £5.9m within two years, but over one year. The amount of indebtedness to the group due for repayment was: Within two years, £64m; between two and five years. £ 11.3 m; over five years, £9.6m. The change of name and an increase in nominal capital from £lom to £l.sfti were approved by a special meeting of shareholders.
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Press, Volume C, Issue 29602, 26 August 1961, Page 17
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199OUTSTANDINGS FALL £7.25m Press, Volume C, Issue 29602, 26 August 1961, Page 17
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