DUNLOP IN AUSTRALIA

Press, Volume CV, Issue 30981, 10 February 1966, Page 17

DUNLOP IN AUSTRALIA

T urn-over Vp, Profit Back

(N.Z Press Assn.— Copyright) WELLINGTON, Feb. 9. I Directors of Dunlop Rubber. Australia, Ltd., have announced that for the halfyear to December 31, 1965, aggregate group turn-over rose nearly £l.sm to £sl.9m—almost 3 per cent higher than for the corresponding period in the previous financial year. Net profit for the half-year, after depreciation and tax, fell to £l.lm (£1.4). The directore say that the net profit was affected by severe cornpetion from both local and overseas sources. Wages, too, had increased and adversely affected profit margins. Extensions It is anticipated that remodelling and extension of the main factories and warehouses. which is proceeding according to plan, will, when complete, effect considerable economies and strengthen the company’s ability to meet future competition. These facilities will become revenueproducing during the 1966-67 financial year. An interim dividend of 5 per cent on cumulative preference shares and 4 per cent on ordinary shares, is payable on April 1. Ex dividend March 2.