TAPPENDEN MOTORS

Press, Volume C, Issue 29701, 20 December 1961, Page 21

TAPPENDEN MOTORS

Tappenden Motors, Ltd., reports that business was buoyant in the seven months to October 31. Turnover and profits were higher than for the correseponding period of the previous year Last year’s published accounts disclosed a profit of £79.347 before deducting pre-acquisition profits. It is expected that the group profits for the current financial year will be at least equal to last year’s figure. In all departments of Tappenden Motors, Ltd., sales have been well maintained Contrary to the experience of some dealers, no recession has been suffered in the used car section. No-remittance sales show an upward trend. This is expected to continue. In spite of reduction of imports caused by the cancellations of “R” licences. Morris Black and Matheson Ltd., report very satisfactory results. The availability of good quality locally produced goods has contributed to. and will in future materially assist in maintaining sales. George Guild As previously advised. 7632 fully paid shares were issued in April last in payment for the assets of George Guild and Sons, machinery and engineers’ supply merchants, of Christchurch. The activities of that firm have since been incorporated with those of the South Island business of the subsidiary. Morris Black I and Matheson (South Island). . Ltd. (formerly P. F. Mann. ; Ltd.). New Kaiapoi Line.—The i Kaiapoi Woollen ManufacI turing Company, Ltd., has reached an agreement with ‘ Watersun Proprietary, Ltd., . of Australia, to manufacture i Watersun women’s beach- ; wear under licence m New Zealand. Manufacture will t start immediately and first , supplies should be in New ■ Zealand shops about August or September ndtt year.