MOTELS AUST. RESULT
Profit Reaches £355,952
Motels of Australia, Ltd., increased consolidated net profit by £134,940 (or 61 per cent.) to £355.952 in the year to June 30. The earning rate larger average capital eases from 14.4 to 13.1 per cent.
Dividend is held at 12J per cent for the year, but directors intend to increase the future share of profits retained in the business and will recommend that dividend for 1963-64 be cut to 10 per cent. Directons say the company’s budget for 1963-64 provides for increased revenue and profits, and trading results to date have been in line with estimates. Dividend
The latest 12J per cent dividend absorbs £338,897 (up £241,615), leaving a profit remainder of £17,055. Paid capital has more than trebled in two yeans, rising from £857,931 to £2,815,504 at last June 30. The company's take-over of Carapark Holdings, Ltd., in November. 1961, and other acquisitions had lifted capital by £1,678.254 to £2,536.185 in the previous term. Further acquisitions and note conversion have increased capital to its present £2.800.000. The result is after tax £77,758 (down £80,283) and depreciation and amortisation £105,237 (up £56,986).
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Bibliographic details
Press, Volume CII, Issue 30275, 30 October 1963, Page 17
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188MOTELS AUST. RESULT Press, Volume CII, Issue 30275, 30 October 1963, Page 17
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