NZ Pet profit
PA Wellington Unrealised foreign exchange gains of $657,000 helped New Zealand Petroleum Company, Ltd, record a profit of $414,000 for the year ended May 31. The result reported yesterday compares with a $530,000 loss for the previous 15 months, when the company had an unrealised exchange loss of $291,000.
The company changed its balance date from February 28 to May 31 last year. Interest and dividend income was $166,000 ($144,000 previous 15 months). Tax was nil for both periods, and the accumulated losses to May 31 were $1,137,000 ($1,551,000). Exploration expenditure to date was $6,152,000 ($3,756,000).
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Bibliographic details
Press, 24 June 1986, Page 25
Word Count
99NZ Pet profit Press, 24 June 1986, Page 25
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