By Phil Boeyen, ShareChat Business News Editor
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Wednesday 13th March 2002 |
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The company reports it made an after tax profit of $3.52 million for the six months ended December, up 74% from the previous period on a 12% increase in revenue of $188 million.
"The improved profit came from a 20% increase in group trading profit together with an improved result, albeit still a loss, from our associate company, Auckland Auto Collection," the company says.
"The group's trading performance was led from the South Island and from provincial NZ in general which, on an overall basis, has enjoyed the best period of sustained farming conditions, both climate and market, for well over a decade."
Colonial says the need to carry the country's exports to port has been reflected in a strong industry for extra heavy duty trucks, a market in which it specialises.
"This activity has continued into the early part of 2002."
The company says investment in inventory at $36 million was up on this time last year but significantly down on the high of $46 million it carried at the end of June 2001.
A fully imputed interim dividend of 9 cent per share has been declared, 3 cents higher than the previous interim payout.
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