24 p.c. RISE IN PROFIT

Press, Volume CII, Issue 30058, 16 February 1963, Page 16

24 p.c. RISE IN PROFIT

Brit. Tobacco Recovery (N.Z. Press Assn.—Copyright) MELBOURNE, February 15. The consolidated net profit of the British Tobacco Company (Aust.), Ltd., rose 23.5 per cent, from an adjusted £1,839,790 to £2371,333—in the year to October 31. Dividend has been lifted from 8 per cent, to 9| per cent. Consolidated earnings were after big increases in provisions. Depreciation was raised from £667,725 to £798,374 and tax from £1,216,493 to £1,387,309. In addition, £207,085 was set aside for other, undisclosed provisions (previously nil). The result excludes a profit of £181,675 made on the sales of shares held by a subsidiary company. The higher ordinary dividend and preference charges require £1,891,176 (£1,610,126).

A.G.C. Interim Profit Up

(N.Z. Press Assn.—Copyright) MELBOURNE, Feb. 15. Australian Guarantee Corporation’s net profit for the half-year to December 31, rose from £764,882 to £897,728. The profist for the 12 months to June last year jumped 25.8 per cent, to £1.614.419.

In today’s interim report the company chairman, Col. H. J. R. Clayton, says thait total gross receivables excluding money on short call, increased from £69340506 to £76.069,536 since June 30. A steady interim dividend of 7} per cent, has already been announced and maintains last year’s 15 per cent, rate.

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