Motor Traders again passes interim div.d
PA * Auckland Motor Traders (NZ), Ltd, will pass its interim dividend payment for the second year running despite - making a turn-around from last year’s first half loss. The directors reported yesterday a $158,000 -profit Jor the six months to January 31. In the same period last year the company incurred a loss of $66,000, and in the full year to July 31 the company earned a 30.6 per cent higher $214,555. Turnover for the latest
half rose 17.8 per cent to $13,900,000. The directors say that trading conditions continue to be difficult for some of the company’s divisions, but it is expected that- the level of profit will be maintained for the remainder of the year. They say that the decision to pass the interim dividend is in line with their declared decision to improve the company’s.debt equity ratio and protect its present liquidity position. Because of this they
decided against paying an interim dividend. Last year, a 6 per cent final was the only payment for the year. In 1979 the dividend rate was 14 per cent.
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Press, 27 March 1981, Page 14
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184Motor Traders again passes interim div.d Press, 27 March 1981, Page 14
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