Colonial Motor Co FY profit soars 38% to record on growing vehicle sales

Wed, 20 Aug 2014

By Paul McBeth Aug. 20 (BusinessDesk) - Colonial Motor Co, the car and tractor dealer, said annual profit rose 38 percent to a record amid growing sales of new vehicles. Net profit rose to $19.3 million, or 58.6 cents per share, in the 12 months ended June 30, from $13.9 million, or 42.5 cents a year earlier, the Wellington-based company said in a statement. Trading revenue climbed 14 percent to $698.2 million. "A feature of this year has been the concurrent strong operating performance from all of the trading companies; car dealership...

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