Cruise sale profit
Cruise Corporation, the Auckland-based property and investment company, said it has made a profit of about $1 million from the sale of property recently. Mr Ron Hayward, an executive director of Cruise, said the sale was part of a “repositioning” of its portfolio and involved New Zealand properties only. He said that as a result of this announcement, the "don’t sell” notice that Cruise issued on Thursday
has been lifted. He also said that Cruise has been appointed manager for the soon to be listed Oakcorp, Ltd' Oakcorp is an Australian property and Investment company with initial capital of $27.8 million. Mr Hayward said Cruise’s role as manager for Oakcorp offered it significant opportunities and a further statement would be made next week regarding Cruise’s future links with Oakcorp.
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Press, 6 October 1987, Page 47
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132Cruise sale profit Press, 6 October 1987, Page 47
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