Property hoists Col Mot

Press, 2 October 1987, Page 10

Property hoists Col Mot

PA Wellington Property sales hoisted the bottom line profit of Colonial Motor Co, Ltd, $5445,9* to $19439,8* la the year ended May 31, up from s34*4* the year before. In the 1985-19* period, property sales contributed only $5564*. In their preliminary profit report for 1966-87, the directors recommend a bonus issue in the ratio of one-for-three, made from the cbm-

pany's accumulated reserve*. :• \ , Colanial Matar lifted taxpaid earaiag* before extraordinary gains 434 W rent in the year t* $4,794,6* ($3,344400). - That wa* achieved *■ turnever up 7J per cent t* $358,400400 ($383400400). Profit before taxt was 54 per cent to $9,4484* ($6,157400), and the comthan doubled to $4,794,000 ($24134*).

Tbere were na ceatributiea* free* mioerlty interests hr associate eampaniee. * The directors have called aa extraordiaary meeting t* approve the beaw share Sue aad ate* a deahliag of the caaapaay** aralMl capital te $46,*64* by lie creatiea ef 46 milliaa erdlnthe meeting will not be given t* shareholders until next maath to ceineide with the annual meeting.