Porter’s profit 29 p.c. higher
The unaudited net profit of Porter Motors, Ltd, Palmerston North-based motorvehicle dealer, increased 29 per cent, to more than $150,000 in the year to September 30. Profit before tax this year was more than $300,000. The directors said in the preliminary report that turnover increased by $1,820,567 to $8,327,190. A final dividend of 8 per cent is being recommended, making an unchanged total of 15 per cent for the year, payable March 4. The profit covers the dividend 2.2 times. The result includes six months’ returns of the newly acquired Fowler Motors, Ltd.
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Press, Volume CX, Issue 32462, 24 November 1970, Page 18
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98Porter’s profit 29 p.c. higher Press, Volume CX, Issue 32462, 24 November 1970, Page 18
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