Motor Bodies loss $189,000

Press, 31 October 1981, Page 20

Motor Bodies loss $189,000

New Zealand Motor Bodies, Ltd, announced an unaudited operating loss for the year ended June 30 of $189,000 (last year $51,000 profit). The 1981 results makes no provision for future taxation benefit arising from the loss (1980 result is after tax of $53,000). In addition, $722,000 for extraordinary costs in rationalisation and closure (last year net gain of $536,000) plus $746,000 (last year nil), being provisions for future costs of Dunedin plant closure and loss on realisation of assets, were written off.

Low internal demand has necessitated a reappraisal of facilities. As a result.it was decided to close Christchurch and Dunedin operations and transfer the work load to Palmerston North. The directors are .not recommending a dividend.

Mr B. A. Christmas, the new president of the NX Society of Accountants, is the first bead of the Society to have followed in his father’s footsteps in this position. His father, Mr W. A. Christmas, aged 84, a life member of the Society, now retired, was president in 1956-57. Mr Christmas, an Auckland chartered accountant, succeeds Mr R. C. Pope as president. Mr Christmas, who was vicepresident during 1980-81, was elected at the first meeting of the seventyfourth council of the society. Elected vice-president was Mr P. C. Gray, a partner in Dunedin office of Gilfillan Morris and Company, chartered accountants.

Mr J. K. Torrance, deputy managing director of Command Services Corporation, Ltd, was reelected as the society’s treasurer. Mr Christmas is a partner in the Auckland office of Wilkinson Wilberfoss, and a director of a number of companies. Mr Christmas was elected to the society’s council in 1974 and since then has been chairman of the professional standards committee and both a member and a chairman of the educational committee. For several years he was the society’s representative on the board of the combined Auckland Technical Institutes.