AIR TRAVEL (N.Z.), LTD.
Air Travel (N.Z.), Ltd., operating on the West Coast, earned a net profit of £984 in the year ended June 30, 1938, compared with £917 in the previous period. Receipts from passenger fares, freights, and mail contracts rose from £6233 to £8762. Dividend recommendation this year is 6 per cent., against 5 per cent, a year ago. The company proposes to increase nominal capital from £10,000 to £20,000. The directors' report states that from the balance of £1192 in the appropriation account, they have paid £2 balance of 1937 income tax, transferred £91 to income tax reserve for 1938, written £100 off preliminary expenses, and added £500 to insurance reserve. After payment of the dividend a balance of £199 will be carried forward. The expansion of the company's activities since the first year of operation in 1935 is shown in the following table:—- ' Increase. 1935. 1038. p.c. Hours flying 70 138 97.143 Flights 151 284 88.079 Passengers .'. 145 393 171.034 Mails carried (lb) ..... 891 5319 49G.969 Freight carried (lb) 633 1421 124.486
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19380827.2.115.1
Bibliographic details
Evening Post, Volume CXXVI, Issue 50, 27 August 1938, Page 12
Word Count
176AIR TRAVEL (N.Z.), LTD. Evening Post, Volume CXXVI, Issue 50, 27 August 1938, Page 12
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.