Allied Mortgage well ahead
The preliminary unaudited results of Allied Mortgage Guarantee Company, Ltd, for the year ended March 31, disclose a pre-tax profit of about $723,000 — 41 per cent higher than last year’s $510,000, the chairman, Mr W. E. Truman, announced yesterday. The AMG directors held their board meeting in Christchurch yesterday.
Total revenue increased
25 per cent to $l.B million, Mr Truman said. Claims were nil. Nine out of the last 12 years have been claims-free. Small losses — no more than $14,000 — were incurred in the years 1978-79-80.
The issued capital remained at $2 million — held equally between New Zealand South British Group, UDC, and National Insurance.
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Press, 6 May 1983, Page 10
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109Allied Mortgage well ahead Press, 6 May 1983, Page 10
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