GR. RENTALS DEBENTURE
$750,000 sought at same rates (N.Z. Press Association) AUCKLAND, December 1. Group Rentals (N.Z.), Ltd, has increased its profit in the first three months of the present year, the prospectus for a new $500,000 debenture issue, with right to accept $250,000 in over-subscriptions shows. The unaudited net profit in the September quarter was $28,000, equivalent to $115,200 on an annual basis. This compared with $llO,OOO earned in the year to June 30.
The company has acquired New Era Sales, Ltd, Takapuna, a rental television business. It issued 39,000 shares. The chairman (Mr H. S. Fanning), repeated his forecast, made in October, that the result for the full year should show some improvement on present indications.
The interest rates were the same as those offered in the April for the same sum, ranging from 6 per cent for six months to I) per cent for eight years.
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Bibliographic details
Press, Volume CXI, Issue 32779, 2 December 1971, Page 19
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149GR. RENTALS DEBENTURE Press, Volume CXI, Issue 32779, 2 December 1971, Page 19
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