£9.7m Loss For Stanhill
(NZ. Press Assn.—Copyright) SYDNEY* May 1«. Stanhill Consolidated, Ltd. (receiver appointed), one of the Korman group of com-, panies, incurred a net loss of £9,726,690 for the year to July 31, 1963. Only one larger loss for a single year has been .reported by an Australian company—when Reid Murray Acceptance, Ltd., lost £20,000,000 in 1962-63. Stanhill’s loss includes a write-off of £4,922,539 on investments in and advances to subsidiary companies. The loss also' provides £2,247,201 for -a loss on advances to Chevron Sydney, Ltd. These advances have been eliminated in the accounts for 1962-63.
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Bibliographic details
Press, Volume CIII, Issue 30443, 18 May 1964, Page 17
Word Count
98£9.7m Loss For Stanhill Press, Volume CIII, Issue 30443, 18 May 1964, Page 17
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Acknowledgements
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