AUSTRALIAN ALUMINIUM

Press, Volume CV, Issue 31020, 28 March 1966, Page 19

AUSTRALIAN ALUMINIUM

1965 Profit Halved

(N .Z Press Assn.—Copyright) SYDNEY, March 27.

Australian Aluminium Company, Ltd. (Australuco), earned 47.8 per cent less profit in 1965 because of stiffer competition. Group profit of the organisation, aluminium fabricators, and distributors and aluminium foil producers, dropped from 1,028.018 dollars to 536.708 dollars, the lowest result since the company incurred a 911.840 dollar loss in 1961. The lower result is equal to earnings of 21.4 cents a share (10.7 pei' cent) compared with 41.2 cents in 1964, and once again no dividend will be paid to the Canadian parent company.

Directors say in the accounts that the demand for semi-fabricated aluminium products, which has grown at a consistent and healthy rate since 1961, levelled off in 1965.

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