Motor Traders margin falls

Press, 18 December 1976, Page 19

Motor Traders margin falls

PA Auckland The sales revenue of : Motor Traders (N.Z.) Ltd, was 12 per cent ahead of last, year for the four months to November 30, but profit was steady, compared with the previous year’s level. The figures showed that (the company was continuing (to absorb cost increases, and (the necessity for the group, jto do this was a matter of ( 'concern, the chairman (Mile. A. Staples) said at the: annual meeting. The directors believed that; the motor trade was being! 1 called upon to bear a dis-1 proportionate burden in. the! regulation of the economy, j he said. In the 18 months toj March 31. motor vehicle! running costs and standing 1 charges increased 38.4 per cent at 10.000 km a year, and 'by 40.1 per cent at 15,000 km a year. It did not seem likely that the present restrictions on car finance would be relaxed tn any way during the current financial year. As the life of vehicles had Ito be prolonged the company looked forward to a continued strong demand for (replacement parts, Mr' I Staples said. Shareholders at the meeting approved the group’s ! issue of specified preference shares.