M. HOLDINGS EARNINGS
65.6 p.c. Jump To £361,720
(N.Z. Pres, Association) AUCKLAND, July 29.
Motor Holdings, Aucklandbased Volkswagen, Skoda, Simca and Fiat group, improved its group profit by £148,522, or 65.6 per cent, to £361,720 in the year to March 31 after a year of expansion. Earning rate on average funds rose from 25.8 to 32 per cent, while that on capital is up from 29.9 to 39.4 per cent. Directors are confident of at least maintaining the earning rate in the current year unless there are serious adverse changes in the general trading conditions. Activities acquired or started during the year were too recent to materially affect the group’s results for the latest year, but will undoubtedly contribute to profits in the current year, says the chairman, Mr J. N. Turner. This year consideration would be given to a possible debenture issue, in line with current financial planning, says Mr Turner. Shareholders would be asked to increase nominal capital by £500,000 to £l.sm but directors had no intention at present of making any issue of capital. As announced, dividend has been raised from the forecast 17 J per cent to 20 per cent.
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Bibliographic details
Press, Volume CVI, Issue 31125, 30 July 1966, Page 18
Word Count
194M. HOLDINGS EARNINGS Press, Volume CVI, Issue 31125, 30 July 1966, Page 18
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