Colonial Motors in profit slowdown

Colonial Motors yesterday reported an 11 per cent fall in after-tax operating profit for the half-year ended December - a net profit of $3.9 million, down from $4.4 million the previous year.

Operating revenue was up 16.4 per cent at $238.3 million. It said revenue was boosted by the inclusion of South Auckland Motors.

A fully imputed interim dividend of 11c a share will be paid on April 3.