Company News NEW B.H. DIV. LIFTED
Follows Profit Jump
(N 2.P A -Rutter— CopyrigM) MELBOURNE. May 3. New Broken Hill Consolidated, Ltd., lead-zinc producer, has lifted dividend from 2s 3d sterling to 5s sterling a share following a 42 8 per cent, jump in net profit in the year to December 31. The result for the year was £1,137,385 sterling compared with a net profit of £796.238 sterling in 1959. This equalled an earning rate of 93.1 per cent, on paid capital of £1.220.528. compared with 652 per cent, previously. 51.1 Per Cent. Rise Profit before tax rose 51.1 per cent, from £1,190,847 to £1.806,472. The latest result was after a substantial lift in tax from £394.609 to £669,087, a drop in depreciation provision from £333.140 to £301,450. and a jump in transfer to mine amortisation reserve from £245,000 to £395,000. Dividend requirement was up from £549240 to £732,319, and left unappropriated profits to be carried forward of £372.446, compared with £362,380 at December 31, 1959.
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Bibliographic details
Press, Volume C, Issue 29504, 4 May 1961, Page 19
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166Company News NEW B.H. DIV. LIFTED Press, Volume C, Issue 29504, 4 May 1961, Page 19
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