Ansett half-year profit up 6 p.c.

Press, Volume CXI, Issue 32568, 30 March 1971, Page 22

Ansett half-year profit up 6 p.c.

(N.Z.P.A.-Reuter—Copyright) MELBOURNE, March 29. Ansett Transport Industries, Ltd’s, net profit for the December half year increased $124,000 or 6 per cent to $2,192,166, the directors say in the interim report.

The result excludes a capital profit, on the sales of assets, of $94,781. compared with $2,410,493 previously. A steady interim dividend of 5 per cent’is payable on May 21, ex dividend April 21.

Revenues increased 17 per cent during the half-year, .partly because of aviation fare increases. The passenger ton mile growth rate, for the trunk line aviation sector of the industry, increased by 12.1 per cent. During the previous corresponding period the growth was “much higher,” the directors said.

The net operating profit represents a return on ordinary capital of 17 per cent compared with 16.4 per cent for the same period in 1969. The increased earning rate is on ordinary capital, which was $764,666 higher as a result of the purchase of the remaining shares in Universal Telecasters Queensland, Ltd, and all the issued capital of Papuan Airlines Pty, Ltd. The revenue from all sources increased from $79,864,423 to $93,503,975 'an increase of 17 per cent.