M. HOLDINGS PROSPE0CTUS
Shares Return 5.8 Per Cent (N.Z. Press Association) AUCKLAND, Oct. 29. Motor Holdings, Aucklandbased Volkswagen group, earned a consolidated net profit of £269,303 in the year to March 31, representing 25.8 per cent on shareholders’ funds and 29.9 per cent on capital, the prospectus for the placement of 900,000 5s shares at a premium of 10s shows. At the placement price, the shares return 5.8 per cent from the forecast 174 per cent dividend and 10 per cent from earnings. Group profits in the last five years were;—l96l: £168,850; 1962: £182,969; 1963: £219,071; 1964 (six monthly only by V.W. Motors), £136,722 and 1965: £269,303. Sales in the six months to September 30 were up on last year’s. Shareholders’ funds are £1,042,645 with all ordinary capital of £900,000. It is expected that an interim dividend of 74 per cent will be paid in February and the final 10 per cent in August. The placement will open on November 22 and close on December 17, or earlier. Application has been made for Stock Exchange listing.
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Press, Volume CIV, Issue 30895, 30 October 1965, Page 20
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176M. HOLDINGS PROSPE0CTUS Press, Volume CIV, Issue 30895, 30 October 1965, Page 20
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