Ansett profit rose 7.9 per cent

Press, Volume CXIV, Issue 33676, 28 October 1974, Page 17

Ansett profit rose 7.9 per cent

(New Zealand Press Association —Copyright) MELBOURNE. The group net profit of Ansett Industries, Ltd, for the year to June 30, rose about §500,000, or 7.9 per cent, to §6.Bm, said the directors in a preliminary report.

H An unchanged final diviIdend of 6 per cent (3c a I share) is proposed making a I steady 12 per cent for the j year.

The profit- was after proi viding income tax of i $7,015,000 (previous year : $4,314,000) and allowed] depreciation and obsolesc e r. c e of $19,207,000 ($17,279,000). Group revenue rose 21.5 per cent to $273m. ' Ansett Airlines of Australia showed almost 22 per cent growth in passenger ’ transport, compared with a ’'growth of about 10 per cent ’ in the previous year and ’ less than 5 per cent the year ’ before. ’ Inter-state airline oper-i ’ ations in New South Wales,! ’ South Australia, and West-' ’ ern Australia also showed] ’ growth. l i The growth of air-freight

| tonnage carried was a record' 129.5 per cent. ’ The interstate road trans-i iport companies were affect-' led by the Queensland floods] 'in January. I In spite of the floods,] I Ansett freight express showled a 17.7 per cent revenue , increase, and Wridgeway ’Holdings, Ltd, showed a revenue rise of 9.6 per cent. i The hotel division enjoyed |a high level of occupancy, Hand a 19 per cent growth in J revenue.

.' The main improvement ] was at Hayman Island, and ] I the Gateway Inns situated in i ] Perth and Brisbane. A third inn. under’ con- ■ ’struction in Adelaide, would ] Ibe ready by the middle of ] 1976. ’ The television broad- j casting subsidiaries contrib- 1 uted substantially to group ! results. Both Channel ‘O’, • Melbourne, and the Brisbane ; station reported strong rev- ' enue growth.