GIC Broadlands improves
I GIC Broadlands, Ltd, had I a year of outstanding progress, record profits and significant advances in all other areas of its activities, said the chairman, (Mr J. W. Robertson) in the annual report. Pre-tax profit rose 62 per cent to a record $102,600“A highly satisfactory result considering the company’s income is derived
i.ifrom fixed interest rate con-! - tractual agreements,” he; ilsaid. I “These cannot be adjusted . to compensate for borrowing . costs which have risen! ■ substantially in the last few, years.” In the area of borrowings,! [he said that the company! [was making excellent pro-! Igress, with fund raising L under current prospectus [issued in May this year “ex-i I ceeding all past progressive levels. |
■| “Each issue closed at the Lend of the statutory six month period after exll ceeding the desired borrowing goal,” Mr Robertson [said. j The company’s successful [debenture issues increased [group assets in the twelve ’months 45 per cent to [54,926,000. Similarly all current hire! I purchase, leasing and personal loan contracts contain; interest charges yet to be' learned by the company. ,
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Press, 12 November 1977, Page 19
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179GIC Broadlands improves Press, 12 November 1977, Page 19
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