ASSOC. PULP PROFIT
Fall Of 5 p.c. To £1,201,095 (N.Z. Press Association) WELLINGTON, Aug. 27. Directors of Associated Pulp and Paper Mills, Ltd., Melbourne, announce that the unaudited consolidated profit of the company and its subsidiaries for the year to June 30 was £1,201,095 compared with £1.262,530 for the previous year. This is after providing £1,614,678 for depreciation and £762,793 for tax compared with £1,395,439 and £764,734 respectively in the previous year. Including dividends received from subsidiaries (£623,087) the profit of the parent company is £1,090,512. Because of increasing costs and continuing competition at low prices from overseas the directors have decided that the final dividend should he 5 per cent and a dividend of. this amount (making 9 per cent for the year) has been declared. Shares will become ex dividend on September 15. Good Half-Year By W’worths Sales of Woolworths, LtdSydney, show a satisfactory increase for the half-year to ■July 29 compared with the previous corresponding period, directors say in the preliminary report. Profit increased proportionately. Interim ordinary dividend is unchanged at 5 per cent. Full rate has been 12 per cent for seven years.
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Press, Volume CIII, Issue 30531, 28 August 1964, Page 16
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187ASSOC. PULP PROFIT Press, Volume CIII, Issue 30531, 28 August 1964, Page 16
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