PROFIT RISE BY AMPOL

Press, Volume CIV, Issue 30738, 30 April 1965, Page 16

PROFIT RISE BY AMPOL

7 p.c. Rise In Half-Year

(N.Z. Press Assn.—Copyright) SYDNEY, April 29.

Ampol Petroleum, Australian petroleum marketer, lifted profit 7 per cent to £1,284.163 in the six months to March 31, directors have reported. Sales and other revenue rose 2? per cent in the same period and gallonage by 7.28 per cent. Directors have declared a steady 7 per cent interim dividend taking the company into a 14 per cent annual rate for the sixth successive year.

Latest result covers the interim ordinary and preference dividends by £83.549. The increase in profit in the latest six months is mainly because of adjustment of the tax paid in the previous March half-year. Profit Reduced

Last year profit for the March half was reported as £1,244,485. However, this result is adjusted for the increased tax rates in the latest report taking the profit back to around £l.2m—the same level as the interim dividend payments. Profit for the six months was after providing £710,000 tax compared with adjusted tax of about £700,000 last year.

Profit before tax rose only 4.9 per cent from £1.900,686 to £1,994,163. Latest result includes the dividend from the 41.8 per cent interest in B.F. Goodrich Aust. Pty., increased from six to 10 per cent, netting Ampol about £20,000 more than last year.