Investment Fin. sees treble forecast profit
PA Wellington Investment Finance Corporation, Ltd, expects its consolidated tax-paid profit for its initial five month trading period will be about $540,000, compared with a prospectus forecast of The $136,000 forecast on tax-paid profit to March 31, 1984, was made in the company’s share prospectus when it was floated to the public. The profit represents an increase of $404,000, over that forecast, the company’s chairman (Mr J. T. Sheffield) said in a statement.
The audited results are expected to be available by May 25.
The consolidated results of IFC include equity-ac-counting the results of its two subsidiaries, the Great Outdoors Company, Ltd, and Jewelmark Industries, Ltd (previously named Peter Minturn Creations, Ltd).
Mr Sheffield said IFC had been able to achieve a result better than forecast because of its emphasis on particular investment banking activities.
The company was not reliant on debt financing for the major portion of its
income, preferring to derive significant income from not only fee-related activities but also by investing in equity situations where an above average return on shareholders’ funds could be earned.
The company hopes to hold its inaugural annual general meeting in midJuly.
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Press, 2 May 1984, Page 27
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196Investment Fin. sees treble forecast profit Press, 2 May 1984, Page 27
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