TOOHEY HIT BY DROUGHT

Press, Volume CV, Issue 31016, 23 March 1966, Page 23

TOOHEY HIT BY DROUGHT

Beer Sales Down

(N.Z. Press Assn.—Copyright) SYDNEY, March 21.

Tooheys, Ltd., Sydney-based brewer today reported steady results for the half-year ended January 31, but the drought had affected sales, directors said.

Group net profit after tax for the half year was at the same level as for the previous corresponding period. The increase in rates of beer excise during August, 1965 had a dampening influence on sales, the directors said in the interim report. “The effect of the drought prevailing in the country areas of the State was noticed in the closing months of the period. “Sales volume for the group was slightly below the record level achieved for the six months ended January 31, 1965.” Interim dividend is increased from 4 to 41 per cent in line with the 8i per cent rate paid for 1964-65. Group net profit for 1964-65 jumped by 241,586 dollars to 1,733,292 dollars, equal to 13.1 per cent on capital; dividend was raised from 8 to 8f per cent.

Business Personal Mr Geoffrey Barton, formerly a marketing executive for the St. James’s Tobacco Company (N.Z.) Ltd., has been appointed senior consultant in the newly-established Auckland office of John P. Young and Associates (N.Z.) Pty. Ltd., management consultants.