NZI Finance
PA Auckland NZI Finance. Ltd. has reported a tax-paid profit of $1,553,000 for the six months to September 30, an increase of 8.6 per cent' on an' annualised basis on the $2,860,000 reported for the full year to March 31. The profit is a return of ■ 22.5 per cent on average shareholders’ funds. Total assets increased marginally during the period, to $3lO million. The general manager, Mr M. J. Wells, said that becaue of the present financial clim-
ate the company had purposefully increased liquidity and, consequently, was soundly placed for the future. Mr Wells said this policy had entailed resisting pressures to expand term lending. Nevertheless, the company had been able to satisfy the borrowing requirements of clients. If recent trends" continue,' with rates at the short end of the market softening," investors may move back into longer-dated securities, he
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Press, 27 November 1982, Page 20
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143NZI Finance Press, 27 November 1982, Page 20
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