RECORD INTACT FOR ANSETT

Press, Volume CXV, Issue 33965, 4 October 1975, Page 19

RECORD INTACT FOR ANSETT

GVew Zealand Press Association— Copyright) SYDNEY. Ansett Transport Industries, Ltd, made its seventh successive record profit with a rise of 20.2 per cent to sAustB.2m in the year to June 30 — largely because of improved contributions from non-aviation activities.

A final dividend of 7.5 peri cent is recommended. mak-| ling an increased annual rate I Ifrom 12 per cent to 14.5 per! I cent. The result was achieved on a sales growth of 19.6’ per cent to s32Bm. Ansett Airlines’ traffic growth rate in passenger-tonne-kilometres fell 21.9 per cent to 6.9 per cent. One passenger-tonne-kilometre — the internationally accepted performance rating for airlines — is one tonne of passengers flown one kilometre. Calculations are based on passengers having an average weight of 90kg, the directors say. The growth rate of air cargo declined as well. These reduced rates had tested the efficiency of the airline to maintain an acceptable level of economic performance. Major increases in costs had included the introduction of equal pay for women and the principle of wage indexation. Excise duty on fuel and air-navigation charges alone cost more than s26m. In spite .of disruptions! caused by Cyclone Tracy i and floods, Ansett-Pioneer,; Ansett Freight Express, and 1 Wridgways Holdings increased their contributions’ to group profit. Albury Border Transport Proprietary, Ltd, and its subsidiaries, acquired in May, were now well integrated with the Ansett Freight Express operations, the directors say. i Television stations owned by Ansett continued to con-

group, with results that reflected strong growth in! revenue. The result was after providing $530,000 more for depreciation at $19.7m. and $BO,OOO more for tax at $7.2m. The result includes $402,000 of equity in profits of associated companies (previously $20,000) following the introduction of equity accounting. The major investment in associated companies is a halfshare of Diners Club, Ltd. The earning rate on shareholders’ funds rose from 12 per cent to 14 per cent. Extraordinary losses for the year totalled $3.2m. These included losses for foreign exchange on term loans (a realised loss of sl.lm), and an unrealised loss of $3.2m which were offset, against an exchange fluctuation reserve. Other extraordinary items in eluded gains of $403,000 resulting from last November’s reduction in the company tax rate, and $696,000 from deferred tax.