Lombard N.Z. ahead 36p.c.
An increase of 35.5 per cent in net profit has been achieved by Lombard New Zealand, Ltd, for the six months to March 31. The profit for the six months was $663,000. Total assets increased 32.1 per cent to $53.2M. New business written showed a 48.1 per cent rise to $22.7M. Gross receivables rose from $37,8M to $52.4M and deferred income increased 66.5 per cent to SB.6M. The overall results con-
tinned the upward trend in profitability, and asset growth, experienced during the financial year to September 30. “Liquidity since March has tightened as a result of the introduction of high interest rates by the Government. Interest rate increases within the industry followed, and it seems unlikely that there Will be a reduction in rates in the near future,” says the chairman (Mr H. C. Callam).
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Press, 13 June 1979, Page 23
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140Lombard N.Z. ahead 36p.c. Press, 13 June 1979, Page 23
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