Motor Bodies ahead; plant being shifted
New Zealand Motor Bodies Ltd, increased sales revenue and unaudited net profit in the six months to December 31.
Sales increased 21.5 per cent to $4,885,000 and net profit rose 19.3 per cent to $298,000 after providing $40,000 more for tax at $244,000. During the second half of the financial year the Petone factory will be transferring part of its activity to the new Palmerston North factory, and it is expected that the transfer will be completed in the first quarter of 1979. This transfer and the closing of the car assembly
plant in Auckland later this year will mean additional costs of a non-recurring nature, which will temporarily reduce profitability. “The rationalisation programme will, however, see New Zealand Motor Bodies well-placed to take advantage of its resources,” the directors say.
Orders for coaches and omnibuses are satisfactory, and production continues at the same rate as the first half of the financial year, they say. An unchanged interim dividend of 5 per cent (5c a share) requiring $lOO,OOO will be paid on March 7, ex dividend February 21.
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Press, 18 February 1978, Page 14
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184Motor Bodies ahead; plant being shifted Press, 18 February 1978, Page 14
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