Mainstay
Mainstay Properties, Ltd, the Christchurch-based property investor floated to the public last October, earned a net profit of $82,782 in the six months ended June 30, the directors say in the interim report.
It was after tax of $36,865; a proportion of preliminary expenses amounting to $42,601 has been written of, leaving $40,181 available for distribution.
At this interim stage no revaluations have been
brought to account. One of Mainstay’s acquisitions was the north of the Square retail property tenanted by Farmers Trading Company on a 15 year lease. “Although the rental" contract is a fixed minimum, it may be increased by means of calculations on higher trading turnover, and the directors are confident that FTC turnover will continue to increase, so leading to higher returns from this investment,” the directors say.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19841026.2.74.3
Bibliographic details
Press, 26 October 1984, Page 10
Word Count
133Mainstay Press, 26 October 1984, Page 10
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.