Foveaux Radio has loss
PA Wellington Listed private AM radio station, Foveaux Radio Ltd, yesterday announced a loss of $104,535 for the year ended March 31. This compares with last year’s profit of $47,700. This year’s loss increased the company’s accumulated losses to $187,996.
The loss came after providing for depreciation of $46,622, down on last year’s depreciation of $47,227. While revenue was up 11.53 per cent on last year’s figure to $1,120,811, running costs were up 28 per cent to $1,224,811. No tax was paid. “Trading conditions in
the province since November have improved slightly and over the last six months of the financial year a profit of $56,023 was achieved,” Foveaux’s chairman, Mr Tim Jenkins said. The company had continued to trade profitably since March 31, Mr Jenkins said.
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Press, 16 July 1987, Page 28
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131Foveaux Radio has loss Press, 16 July 1987, Page 28
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