Auric doubles net profit
The Auckland-based financial house, Auric Corporation, Ltd, has boosted taxpaid profit for the February year by 99 per cent to $466,118 and raised its top interest rate to 16 per cent. The company, which is equally owned by Ceramco, Ltd, and MSI Corporation, Ltd, increased its total assets during the year by. $2.25 million to $l2 million. Earnings return on shareholders’ funds jumped 6 per cent to 32.8 per cent. The directors report that
prospectus number nine closed on April .20 fully subscribed. A new prospectus for an issue of $2,000,000 secured debenture stock and unsecured deposits is now open. The top rate of 16 per cent a year for a three-year term is 0.25 per cent higher than that previously offered. Other rates to also rise by 0.25 per cent were: one year term to 15.25. two years to 15.75, 4 years to 15.75. There were no other changes.
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Press, 2 May 1981, Page 21
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154Auric doubles net profit Press, 2 May 1981, Page 21
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