H. C. SLEIGH, LTD.

Press, Volume CII, Issue 30065, 25 February 1963, Page 16

H. C. SLEIGH, LTD.

Earnings Still Record (NJS. Press Asm.—Copyright) MELBOURNE, Feb. 22. H. C. Sleigh. Ltd.—petroleum, shipping and rubber group—continued to earn at a record,rate in the half-year to December last when consolidated trading profit, before tax, jumped 28 per cent., or £359.000, to £1,622.000. This follows the 57$ per cent gain in net earnings to £1,808,000 in the year to June 30, 1962, struck after providing £1,016,000 for tax. The chairman (Mr H. M. Sleigh) said in today's interim report that the increase in trading profit came principally from a 7 per cent, lift in the volume of petrol sales, a gain of 17 per cent in proceeds of “Hardie” rubber product sales, and a 30 per cent, rise in export turnover. Dividend Steady Ordinary interim dividend is again 6¥s per cent and will be paid on April 17. Full dividend distribution last year was 12J per cent. The directors say they are pleased with the half-yearly trading profit and are confident that this rate of earnings can be maintained. Referring to the shipping activities, Mr Sleigh said the company soon would introduce, as managing agent, two Dominion Line first-class passenger and cargo ships to trade between Australia, Hong Kong, and Japan. The ships—the Francis Drake and George Anton—would run a monthly service starting on March 6 with a round trip of eight weeks, he said.