S.C. Hotel down
The unaudited group net profit of Southern Cross Hotel (Dunedin), Ltd, fell 62.3 per cent to $10,665 in the six months to October 31, and the directors expect the final result to March 31 to also be down on the previous year. The result in the first six months was well down, but the directors consider this to be more in line with normal! experience having regard to!
the seasonal nature of the company’s business.
“Normally, the second six months makes a greater contribution to profits, but tour business is belcfw that of previous years and there has been more competition in catering. Results for the second half will be affected by these factors,” they say. Gross revenue was'Bpe r cent higher at $795,000, and taxation fell $14,418 to $8726.
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Press, 28 February 1980, Page 22
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133S.C. Hotel down Press, 28 February 1980, Page 22
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