Recovery but no dividend
N.Z. Motor Bodies, Ltd’s unaudited operating profit for the year ended June 30, was $84,400 ($189,000 loss last year) which with extraordinary profits of $178,000 makes a total profit of $262,400 ($1.657M loss last year).
No tax is payable in respect of either year. Although the directors do not consider this a satisfactory return the result indicates an improved trend after consolidation of activities at Palmerston North. Market demand is currently continuing to be weak, but cautious optimism is expressed for the 1982-83 year's activity, with significant contracts being won. The annual general meeting will be held at 2.30 p.m. on November 1, in Palmerston North. Directors are not recommending a dividend.
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Press, 27 September 1982, Page 26
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116Recovery but no dividend Press, 27 September 1982, Page 26
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