Pan Austral has loss
PA Wellington The waste disposal firm, Pan Austral Corp, Ltd, yesterday posted an interim taxpaid loss of $19,856, compared with a $321,126 profit in the previous corresponding half year. The loss, in the six months ended January 31, resulted from amortisation of intangibles which was a $134,000 deduction from a trading profit of $97,262. In addition, an extraordinary gain of $432,193 representing a previous period adjustment for deferred taxation was reduced by un-
realised losses on equity investments of $415,311, treated as an extraordinary item. The trading profit was well down on the previous corresponding half, when Pan Austral made $937,014. Deductions for amortisation then were $268,865. In the latest half, the amortisation turned the trading profit into a loss of $36,738. This included a nil tax liability. Previously, tax was $347,023, giving a profit of $321,126. The directors said a decision on payment of an interim dividend was held over for the time being.
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Press, 16 June 1988, Page 27
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159Pan Austral has loss Press, 16 June 1988, Page 27
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