Motor Holdings trading well
Auckland
Trading by Motor Holdings. Ltd. in the quarter to December was satisfactory, says the company’s chairman (Mr J. Mowbray) in his full interim report. As reported earlier. Motor Holdings earned a 23 per cent lower net profit of $2,104,000 in the six months to September 30, but the interim dividend was increased from 12 to 14 per cent.
The profit decline reflected the inclusion of an exceptional contribution from the associate company, Mazda Motors of NZ, Ltd, in the earlier period. Mr Mowbray says that Honda motorcycles have enjoyed good sales since September, with November a particularly good month.
The recently acquired aviation division is trading profitably, and will make a significant contribution to the profit for the year to March.
A retail property in Otahuhu has been sold, resulting in a further capital profit of $lOO,OOO. Negotiations are taking place for the sale of adjacent land and buildings. The company is currently testing the new range of Subaru minicars that has been introduced by Fuji Heavy Industries.
These are performing very well under the New Zealand conditions and it is expected they will be introduced to the New Zealand market towards the end of the next year.
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Press, 9 February 1982, Page 20
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203Motor Holdings trading well Press, 9 February 1982, Page 20
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