Colonial Motor Co full-year profit falls 7.4% on slimmer margins, outlook dims

Aug. 19 (BusinessDesk) - Colonial Motor Co, the listed motor vehicle distributor, posted a 7.4 percent decline in full-year profit and said margins have contracted for its car dealerships and demand for tractors has been dented by weaker dairy prices. Net profit fell to $25.3 million in the 12 months ended June 30, from about $28 million a year earlier, the Wellington-based company said in a statement. Operating revenue climbed about 13 percent to $789 million. Colonial Motor acquired the Jeff Gray BMW and Mini business in the first half...