Accounts qualified
' The group net profit of I T ravelodge Australia, Ltd, rose 19.1 per cent to $1,031,000 in the year to June 30. The profit was after provision for taxation, $91,000 higher at $310,000, and depreciation, $95,000 higher at $913,000. Extraordinary income was increased by $13,000 at $423,000. The company paid lower rates of tax on income earned outside Australia. Group revenues rose s4.lm to $25.2m. The report of the auditors is again qualified in respect of the nonprovision for depreciation of buildings erected on freehold land. The directors have restated their opinion that such a provision is unnecessary and unrealistic. i
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Bibliographic details
Press, Volume CXIV, Issue 33653, 1 October 1974, Page 20
Word Count
103Accounts qualified Press, Volume CXIV, Issue 33653, 1 October 1974, Page 20
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