Trans-Ash in black

Press, 4 May 1984, Page 10

Trans-Ash in black

Trans-Ashburton, Ltd, the haulage and contracting firm, reports a net after-tax profit for the six months to December 31 of $24,610, compared with a loss of $57,901 for the corresponding half of 1982. An unchanged interim dividend of 8 per cent (4c a share) wil be paid on May 31. Convertible notes will convert at par on that date to ordinary shares. Group turnover was $1,790,788, compared with $1,544,094 for the previous corresponding half-year. The result was after a before-tax group profit of $34,626 (compared with a loss of $128,625), a tax credit of $7693 ($36,651), and deduction of minority share of profit of $17,709 (share of loss $34,073). Depreciation for the six months was $175,102 ($174,611). Extraordinary items included capital gains of $9946 ($21,030) and recovered depreciation of $114,351 ($61,416).

The directors say that the figures reflect the traditional out-of-season trading for the group. “It is pleasing to note the recovery in all sections that is occurring because of a much brighter farming season in Canterbury after two years of drought,” say the directors. They expect continued good trading times until balance date, although offsetting this will be problems resulting from delicensing and Government charges on the industry, particularly road user charges.