CLYDE IND. PROFIT
Rise To New Peak (N.Z. Press Assn.—Copyright) SYDNEY, Nov. 19. Clyde Industries, Ltd., engineer, lifted consolidated net profit by 16 per cent to a record £835,095 in the 12 months to June 30. The result remained after lifting taxation provision from £258,760 to £352,904 (still apparently low for the level of pre-tax profits) but cutting depreciation from £456,775 to £435,692. In a review of the results the chairman (Mr R. E. Purves) said results of the first quarter of the current year were “generally in excess” of sales and profit for the previous corresponding period. Strong Position Mr Purves said the financial position was strong and directors did not anticipate any problem in providing funds for present and future plans. As previously reported, dividend had been held at 15 per cent for 1963-64. Earning rate on steady paid capital moved up from 19.2 per cent to 22.4 per cent after allowing for preference dividend. Outside shareholders’ share of the 1963-64 profit was £27,708 against £16,508 for the previous year.
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Press, Volume CIII, Issue 30603, 20 November 1964, Page 16
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172CLYDE IND. PROFIT Press, Volume CIII, Issue 30603, 20 November 1964, Page 16
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