READER’S DIGEST
Profit Falls Sharply Consolidated net profit of Reader’s Digest Association Proprietary, Ltd., Australia, fell heavily, from £347,477 to £57,699, in the year to December 31 last. Result is after sharply reduced tax of £27,429 (down £130,306) and depreciation, £48,451 (up £4307). In the latest return, directors say that profit fell because substantial publishing work was undertaken during 1964, much of which had not reached a marketable stage at the balance date. Since then, substantial sales of these new products have taken place, they say. Tax concessions were earned in 1964 as a result of Increased export income, directors add. The company is wholly owned by Reader’s Digest Association Inc., of the United States.
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Bibliographic details
Press, Volume CIV, Issue 30822, 6 August 1965, Page 15
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115READER’S DIGEST Press, Volume CIV, Issue 30822, 6 August 1965, Page 15
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