Visionhire profit up 11.5 per cent

Press, 9 May 1984, Page 36

Visionhire profit up 11.5 per cent

The audited net profit of Visionhire Holdings, Ltd, for the 12 months ended March 31 was $1,769,000 (last year $1,587,000), an increase of 11.5 per cent, the directors announced. The profit was achieved after providing $1,392,000 (last year $1,212,000) for taxation. There were no minority interests or extraordinary items. The directors are recommending an increased final dividend of 5c a share (10 per cent) which will take total dividends in the 198384 year to 9c a share (18 per cent). The earning rate on average shareholders funds was 26.6 per cent (last year 27.5 per cent). Depreciation was $3,898,000 (last year $3,373,000). Net cash flow generated from trading

operations was 59.5 c (last year 56.4 c) a 50c share. Net cash flow is profits after tax plus depreciation retention and deferred taxation. The company has joined Kerridge Odeon, Radio Pacific, and Mr T. Parkinson, to form the TV3 consortium to bid for a warrant for the third channel. The company sees considerable advantages in being involved with both the transmission and reception of television. The video market has improved considerably, and Visionhire is now achieving a significant share of the market. This together with an increase in the total placements of colour television sets and a restructuring of borrowing to reduce interest charges have assisted towards a very good result.