COMMERCIAL Associated Motels profit $146,499
Associated Motels N.Z., Ltd, yesterday disclosed a group net profit of 8146,199 for the year to October 31. The 8102.380 increase in profit is after providing 5155.877 (1972 —837.264) for depreciation, and 894,295 (1972 - 826,000) for taxation.
The directors say in their preliminary report that they will recommend to shareholders at the annual general meeting, to be held on March 12. that the dividend to be paid for the year be increased from 6 per cent to 7 per cent; it will be pavable on March 13. A resolution will also be
put to shareholders at a special general meeting to be held on the same day that the name of the company be changed to Vacation Hotels, Ltd. The group has been using for some time “Vacation Hotels” in the promotion of its activities, and the directors consider that the change of name will reflect the benefits of the goodwill antj connections so built up. Shares will become ex dividend on February 20.
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Bibliographic details
Press, Volume CXIV, Issue 33454, 8 February 1974, Page 12
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169COMMERCIAL Associated Motels profit $146,499 Press, Volume CXIV, Issue 33454, 8 February 1974, Page 12
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