Motor Holdings
PA Auckland Motor Holdings Ltd traded at record levels during April. May and June,* the company’s chairman (Mr J. Mowbray), told the annual meeting. Management accounts for the three-month period showed a pre-tax profit of about $1,946,000 compared with a corresponding profit of §950,000 last year. These figures did not include any contribution from the company’s interest in Mazda Motors of New Zealand Ltd.
With profit for the first quarter slightly ahead of budget, directors had set a budget for the balance of the
year that would show a satisfactory profit advance in the full year, if achieved. There seemed no reason to believe that there would be any hasty re-structuring of the motor assembly industry, he said. Because of diversification, the assembly of vehicles now accounted for less than a third of the company’s trading profits.
If local assembly was restricted a greater number of built up vehicles would need to be imported. Motor Holdings would then have a wider range of models available, and these would be in good demand. ______
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Press, 12 August 1980, Page 23
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174Motor Holdings Press, 12 August 1980, Page 23
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