Transvision assets to increase 40p.c.

Press, 1 July 1978, Page 17

Transvision assets to increase 40p.c.

The prospectus for thelln April and May new place-r estimated that 43 per cent ofissue of SIM in debenture merits were three times 1 households in the, country stock bv Transvision Hold- those of the same months ofjhad colour television. ings. Ltd, discloses that the 1977. I It was estimated that rent . company will acquire all of The directors’ review in receivable in 12 months Amalgamated Telehire's capi- the annual report appears from contracts in effect at tai for cash, payable over 16 over the signatures of Mr H. March 31 would yield months from June 30, but J. Bayldon, and Mr W. F. $3,215,000. the purchase price is subject Christian. The other direct- Transvision International to final determination on ors are Messrs J. L. Martin, had continued to service that settlement date. and A. C. Paine. financing needs of importers It is estimated this acqui- Sets placed under rental and exporters, and although sition will increase Trans- over the first three years of importers’ difficulties at vision total assets by about the company are now gen- times were reflected in busi--40 per cent to about $15.5M. erating worth-while profits, ness written it used availAs reported, in the 15- which have supported the able credit lines. months to March 31, Trans- high initial costs of new The directors were examvision had a net trading pro- contracts, and provided suf- ining various alternatives fit of $328,814, equivalent to ficient profits for payment for the sale of land at Lake $263,050 for 12 months, and of dividends. Taupo. comparable with $225,497 Despite a reduction in the ffie balance sheet shows for the vear to December 31. receivables of Finance House receivables and securities at 1976. ’ Ltd, during the latter part of $4,071,084 (1976 calendar I The board has recommend- the period reviewed, strict yea r $4,893,262); other curled a dividend of 7.5 c a share!cost controls had ensured ren t assets $1,888,606 1(7.5 per cent), after the sc!the return of funds etn- ($3,117,916); contracts 1 maiden dividend paid last) ployed would continue, the $4,418,269 ($3,736,030); borlyear. report says. rowing and deposits ' The debenture prospectus) The reduction in controls $7,925,720 ($9,752,737) other j-says that the latest profit is-previously applied under the current liabilities $748,721 largely attributed to record. hire purchase regulations ($592,186); and shareholders' growth in television renting, 1 had helped the substantial f un ds $2,383,567 ($2,221,409). and strong growth continues.!rise in placements, and it is|—■ ' -