NZI Securities well ahead
PA Auckland N.Z.I. Securities. Ltd. the merchant banking arm of N.Z.I. Finance. Ltd. increased tax-paid profit 51 per cent to $1,294,511 in the March year. The result was earned on year-end assets up 21 per cent at $80.3 million, and represents an earning rate of 42 per cent on average shareholders’ funds. Tax took $464,510. There were no extraordinary items. Growth was in all sectors, the directors report. Financing of international trade, including business through the shareholder Hong Kong and Shanghai Banking Corporation. was again an active area of lending.
The directors add that areas of non-funded income are emerging, particularly in the corporate services area where clients are seeking advice on acquisition and restructuring activities, A number of overseas term lending projects were undertaken, they say. This is likely to continue with-tight-ening liquidity in New Zealand. The directors add that during'the year N.Z.I. Securities increased its holding in Ariadne Investments. Ltd. from 45 to 50 per cent, and Ariadne in turn acquired 100 per cent of H. W. Smith, Ltd.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19820616.2.97.23
Bibliographic details
Press, 16 June 1982, Page 29
Word Count
175NZI Securities well ahead Press, 16 June 1982, Page 29
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in