Rank in maiden result
PA Wellington Rank Group, the Auck-land-based office and party equipment hirer, has reported an interim net profit of $328,487 in the six months to September 26.
The company, which listed in April, gave no comparative figures as this is its first profit report since incorporation. Preliminary expenses and goodwill amortisation were not included in the result, said the acting chairman, Mr Grant Hally. These would be charged to the first full year to March 31, he said.
The directors were happy with the result and expect second half earnings to exceed the first half result.
The company intended sending a more detailed interim statement to shareholders and the Stock Exchange “in due course.”
Mr Hally has replaced the company’s original chairman, Mr Grahame Hamilton, who resigned and now lives in Britain.
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Press, 2 December 1987, Page 41
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135Rank in maiden result Press, 2 December 1987, Page 41
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