Mogal plans diversification

Press, 25 July 1984, Page 28

Mogal plans diversification

PA Wellington The transport group, Mogal Corporation, will diversify into tourism and security services in 3nse to the intense comon it is experiencing in the freight market. In its annual report, the managing director, Mr R. H. Fisher, says he sees the security industry, “as one of the growth areas at present and our new acquisition (KM Security Group, Ltd) with a strong foothold in the Auckland area sets a firm foundation for the important extension of the group's planned diversification.” Mogal entered the tourism market with the opening of New Zealand Heritage Park, Ltd.

i Mr Fisher says: “We are , currently evaluating further I opportunities for developI ment in this important i national growth area.” Mr Fisher says that i changes in the Road Transport Regulations which ini troduced open competition between road and rail eni abled Mogal to offer their customers a complete service using road, rail, sea or air. i As reported earlier, Mogal, which gained public listing only a year ago, had a profit of $2,882,000 compared with $1,603,000 last year. Earnings per share were 48c and represented 29 per cent on average shareholders’ funds for the year.