Ansett dividend, profit higher

Press, Volume CXV, Issue 33783, 4 March 1975, Page 14

Ansett dividend, profit higher

(N.Z.P.A.-Reurer— Copyright)

MELBOURNE

Ansett Transport Industries, Ltd. increased net operating profit 17.0 per cent to $3,892,000 in the half year to December 28, the directors report.

The profit was after provision of $287,000 more at $3,303,000 for tax. The interim ordinary dividend has been raised one per cent to 7 per cent, payable on May 14. Revenue from all sources was 19.7 per cent higher at $159.4m. There . had been a slower passenger-growth rate in the aviation industry, and industrial problefns severely dislocated services during No'vember, the directors said. Growth in air cargo was affected and the 29.2 million tonne kilometres carried by Ansett in the half year was 'equivalent only to the amount carried in the corresponding period in 1973.

Road transport, including Ansett-Pioneer, Ansett Freigh Express, and Wridgways Holdings, made considerable progress over the corresponding period of the previous year, the directors said. The television subsidiaries > continued to earn high programme ratings, and contribI uted substantially to group ' profits. Manufacturing and trading • showed a significant profit after reorganisation of functions and the fi elimination of non-profit making activities.

Profit increase

Profit had been increased by the interest earnings on funds placed on the shortterm money market arising from the company’s strong liquid positition, the directors said.