Colonial Motor Co lifts annual profit 13% on buoyant car market

Thu, 23 Aug 2018

By Paul McBeth Aug. 23 (BusinessDesk) - Colonial Motor Co lifted annual profit 13 percent as a buoyant car market drove the motor vehicle distributor closer to cracking a billion dollars of revenue. Net profit attributable to shareholders rose to $25 million, or 74.6 cents per share, in the 12 months ended June 30, from $22.2 million, or 67.3 cents a year earlier, the Wellington-based company said in a statement. Revenue rose 5.8 percent to $904 million as the motor vehicle distributor enjoyed another year of record new car registrations...

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