Broadlands tougher time in Australia
PA Perth! Broadlands Finance, Ltd, a subsidiary of the New Zea-i land-based Challenge Corpor-i ation, Ltd, earned a profit of 1 Aust §207,000 in the 15 months to June 30, after earning $179,000 in the nine months to March 31, last year. The balance date change, the second for the firm in 18 months, was to bring it into line with its parent company, after its former parent, Broadlands Dominion Group, merged with Chailen°e. Turnover was $3.3M compared to SI.SM in the pre-
vious nine-month period. The results are after a sharp rise in tax to $146,000 (previous period $12,000), interest also up steeply to SI.BM ($707,000) and depreciation of $22,000 ($13,000). Extraordinary ■ profits totalled $25,000 ($97,000) as a liability provision to cover disallowance of previous claims for investment allowance in respect of leased plant. The directors said that the company recently expanded its business in Western Australia by buying Ortem Finance Pty, Ltd, from Metro Industries, Ltd.
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Press, 30 August 1980, Page 19
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163Broadlands tougher time in Australia Press, 30 August 1980, Page 19
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