CONSOLIDATED PRESS
Sharp Rise In Profit (N.Z Press Association —Copyright) SYDNEY, September 13. The directors of Consolidated Press Holdings, Ltd., announce a combined profit for the company and its subsidiary companies for the year ended June 30 of £415,910 after providing £304,121 for tax and £152,087 for depreciation. The £415,910 net profit includes £5OOO received by way of dividend from Television Corporation, Ltd. The profit for 1957-58 was £343.534, after providing £220,784 for tax and £131,217 for depreciation.
It is proposed to hold a general meeting on October 30, and the directors will recommend a distribution of 6 per cent, tax free, payable at the end of the year. There is “absolutely no foundation in any current rumours that the company or any company member of the group is considering the sale or take-over of any of its assets, shares or publications,” directors say. “To the contrary, the directors have before them plans for considerable expansion of the group’s activities.”
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https://paperspast.natlib.govt.nz/newspapers/CHP19590914.2.190
Bibliographic details
Press, Volume XCVIII, Issue 28999, 14 September 1959, Page 16
Word Count
160CONSOLIDATED PRESS Press, Volume XCVIII, Issue 28999, 14 September 1959, Page 16
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Acknowledgements
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