M. TRADERS YEAR
Turn-Over A Record (N.Z. Press Association) AUCKLAND, Nov. 17. The continued growth of the motor industry and the company’s increasing capacity to serve it enabled Motor Traders (N.Z.), Auckland, to achieve a record turn-over in the year to July 31, the chairman (Mr W. K. Michael) says in the annual report. The accounts .show net profit, announced earlier as £95,700. at £96.044 an increase of £16,153, or 20.2 per cent.
The result does not include profits by Better Brakes, taken over during the year and the accounts have not been consolidated.
The result was after provid- i tng £689 more for depreciation i at £15,380 and £17,306 more for tax at £95,633. The dividend, maintained ( at 11 per cent after a 1:6 bonus issue, requires £41,7651 in addition to the £3OOO preference charge. Earning rate on average or-! dinary funds rose from 10.7 to I 11.8 per cent.
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Bibliographic details
Press, Volume CIV, Issue 30911, 18 November 1965, Page 21
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151M. TRADERS YEAR Press, Volume CIV, Issue 30911, 18 November 1965, Page 21
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