AUCKLAND TRANS.
Earnings For Six Months
(N.Z. Press Association)
AUCKLAND, Oct. 26.
Auckland Transport Holdings, Ltd., earned a consolidated net profit of £22,745 in its first six months to August 31, the chairman (Mr J. B. Donald) announced in an interim report.
This represents an earning rate of 15.2 per cent on paid capital of £300,650. When the company was formed, directors forecast an initial dividend of 6 per cent. Combii. 1 profits of the constituting companies in the year to March 31 exceeded £37,000, shareholders were told in April. The profit for the half-year includes the results of nine months’ operations by Suburban Buses, Ltd., six months’ by Johnston’s Blue Motors. Ltd., and five months’ by North Shore Transport, Ltd., and Henleys Engineering Company, Ltd.
The turn-over in most departments was at record level, Mr Donald said, but once again it was difficult to maintain profitability from passenger transport. Suburban Buses had a small loss, but this trend has been reversed.
The gross revenue from bus charter and contract work, rental cars, garage, increased.
Directors intend to increase the activities of these departments.
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Bibliographic details
Press, Volume CIV, Issue 30892, 27 October 1965, Page 21
Word Count
184AUCKLAND TRANS. Press, Volume CIV, Issue 30892, 27 October 1965, Page 21
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