H. B. Transport

Press, 3 December 1982, Page 16

H. B. Transport

Hawke's Bay Transport Holdings, Ltd, earned a group equity net profit, after providing $143,566 ($100,799) for taxation and the transfer of $30,030 ($61,424) to deferred taxation reserve, of $622,090 (ssls,oo4)—including realised capital profits on sale of assets of $36,820 ($20,910). The equity net profit shows a 21 per cent increase over the previous year. The earning rate on average shareholders’ funds increased from 15.9 per cent to 16.6 per cent. As indicated in the half yearly report, traditionally the major portion of the group’s profit has been earned in the first six months of the year.

Turnover for the group, at $13,296,932 ($12,163,258) showed an increase of 10.9 per cent while operating expenses increased by 10.6 per cent. The improvement in operating margin was partly offset by increased depreciation written off ■ $747,524 ($500,036). The percentage margin on turnover of next profit before taxation has increased from 5.4 per cent to 5.9 per cent. The directors have recommended a final dividend of 9 per cent from revenue on ordinary share capital, payable on December 23, 1982. This makes a total of 17 per cent for the year including 2 per cent from capital profits which was paid as part of the interim dividened.