Motor Holdings Sales Rise

Press, Volume CVIII, Issue 31768, 27 August 1968, Page 21

Motor Holdings Sales Rise

(N Z. Press Association)

AUCKLAND, August 26.

Motor Holdings, Ltd, Auckland motor vehicle assembler and distributor, had an improvement in trade in the first four months of the current year, the chairman (Mr J. N. Turner) told the annual meeting. With the easing of hire purchase restrictions and a more buoyant economy, the position might improve, he said.

Mr Turner said the first shipment of Trekka vehicles for export to Australia had been loaded at Auckland a week ago. Entry into Australia was only recently confirmed under the New Zealand-Austra-lia free trade agreement

Profit Fall For Magnus

Magnus Motors, Ltd, Wellington motor vehicle distributor. suffered a sharp check in the year to June 30 with audited net profit down 36.1 per cent from $243,190 to $155,315, according to a preliminary report. Final ordinary dividend of 6 per cent makes a steady 10 per cent for the year. The directors consider it desirable to maintain the dividend level and they say that the improving outlook in the economy and in the company’s trading supports this decision.