Andas recovers

Press, 27 March 1981, Page 14

Andas recovers

Andas Group, Ltd, the Wellington-based office equipment distributor, earned an unaudited group net profit of $154,179 in the six months to December 31, compared with a loss of $144,357 in the previous corresponding period. • The pre-tax profit was $293,992. The tax provision took $139,813 (nil previously), and depreciation fell $15,499 to $350,392. Although orders held are at a satisfactory level, it is doubtful whether the deliveries of the new generations of computer • equipment and word processors being introduced by the group, would be fully'reflected in the final six months of trading, said the chairman (Mr J. D. Pottinger).

“A heavy investment in

systems software has had its effect on the latest half-year, and this will continue through to the end of the current financial year.” After the disposal of DriCopy New Zealand, Ltd, all other subsidiaries performed satisfactorily, he said. An unchanged interim dividend of 5.5 c a share (5.5 per cent) is payable on May 14, ex dividend on April 29.