ASSOCIATED GROUP
Group Profit £12,848 (N.Z. Pres* Association) AUCKLAND, March 17. Associated Group Securities, Ltd., Auckland finance company, earned a group net profit of £12,848 in the year to January 31, according to a preliminary statement. Associated Group Securities, formed by the amalgamation of the 22 finance companies of the Pacific Group, was granted unofficial stock exchange " listing in August last year. At the same time it took over the First and Second New Zealand Acceptance Companies, Ltd. Earning Rate
The tax-paid profit represents an earning rate of 12.8 per cent on the paid capital of £lOO,OOO. A final dividend of 4 per cent on original capital has been recommended, making 8 per cent for the year. The chairman (Mr Hugh Wright) said yesterday that the profit trend shown in the interim accounts at the end of July and October last year had continued. He added that the forthcoming issue of debenture stock would enable Associated Group Securities to continue its programme of expansion.
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Bibliographic details
Press, Volume CIII, Issue 30393, 18 March 1964, Page 21
Word Count
164ASSOCIATED GROUP Press, Volume CIII, Issue 30393, 18 March 1964, Page 21
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