Mirage losses cut
PA Wellington A tax credit allowed Mirage Entertainment Corp to cut in half losses on its first half year of operation. The listed film-making company had a loss of $370,854, in the half to September 30, after a tax credit of $323,865. The loss before that was $694,719. Mirage yesterday told the stock exchange the loss was mainly due to income from its feature film, “Queen City Rocker,” in North America
turning out to be less than had been expected, while the high New Zealand dollar also meant lower returns on offshore sale of other feature films.
The company had a turnover of $3,024,843. It reported no extraordinary items. A major new production, "A Soldiers Tale,” would be available for distribution in the first six months of this year, after the successful completion of photography, Mirage said.
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Press, 26 January 1988, Page 23
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140Mirage losses cut Press, 26 January 1988, Page 23
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