Transvision booming

Press, 9 May 1979, Page 24

Transvision booming

PA Auckland Record levels of new tele-j vision rental business con-i . tributed to Transvision Holdings, Ltd. raising net profit; 53.6 per cent, to $404,000 fori the year ended March 31. The directors have also recommended that the divi-, dend be raised to 11c aj

share (11 per cent), a 46.7< per cent increase over the; 7.5 c paid for a 15-month-period last year. The dividend will be paid! on July 11. to shareholders' on the register on June 26. I The latest result is; reached after providing $332,000 for deferred tax on! an operating profit of $736,000. Last year the company re-| ported an operating profit oli $329,000 for 15 months; for comparative purposes this; has been converted to a 12month equivalent of $263,000. The directors say in a pre-; liminary report that total assets of the group have increased from SUM to S2IM. The 91 per cent increase in assets, the directors say. has been largely brought! about by a 220 per cent in-i crease in the value of tele- 1 vision receivers on hire to a new level of SI4M.

The earning rate on average shareholders’ funds improved from 12.3 to 14.3 per cent, and the earning rate on capital was 20.2 per cent for the latest year. Cash flow generated from profits and depreciation was in excess of 52.5 M in the I year, and this is expected to continue in conjunction with the growth in television rental business. Transvision Holdings acquired Amalgamated Telehire N.Z., Ltd, last June. The directors say this acquisition, together with new business through its own outlets, has resulted in Transvision increasing its share of the total television rental market. The rental market is now taking the largest share it has ever had of the total television receiver market, the directors add, and this upward trend is expected to continue.