MOULDED PROD.
Div. Unchanged, Profit Down (N.Z. Press Assn.—Copyright) MELBOURNE. March 5. Moulded Products (Australasia), Ltd., is maintaining its ordinary dividend at 14 per cent, for the year to December in spite of lower profit. Net earnings, subject to audit totalled £167.384 compared with last year’s record of £409,262. The result was after tax cut from £261,250 to £29 688 and depreciation of £381,149 compared with £383.554 previously. Directors say in today’s preliminary report that because of the recent trend of prices of raw materials and some finished products in a highly competitive market it was considered prudent to provide £75.000 from profits to create a stock reserve account.
The final dividend of 8 per cent, will be declared at the normal time (May last year).
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Bibliographic details
Press, Volume CI, Issue 29764, 6 March 1962, Page 17
Word Count
126MOULDED PROD. Press, Volume CI, Issue 29764, 6 March 1962, Page 17
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