Colonial Motor Co lifts annual profit 4.2%, riding on car sales boom

Wed, 16 Aug 2017

By Paul McBeth Aug. 16 (BusinessDesk) - Colonial Motor Co, which listed on the NZ stock exchange in 1962, lifted annual profit 4.2 percent as the motor vehicle distributor continued to enjoy the nation's car sales boom. Net profit attributable to shareholders rose to $22.2 million, or 68 cents per share, in the 12 months ended June 30, from $21.5 million, or 65.7 cents, a year earlier, the Wellington-based company said in a statement. Revenue fell 1.4 percent to $854.8 million due to the sale of its short-lived franchise agreement with t...

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