C. HARBOUR RUTILE
Profit Lifts To New Peak
(N.Z. Press Assn.—Copyright) SYDNEY. June 8.
Net profit of Coffs Harbour Rutile N.L.,/ jumped from 108,312 dollars to a record 291,002 dollars in the year to December 31.
The increase is mainly attributable to the sharply higher dividend income from the company’s half-interest in Rutile and Zircon Mines (Newcastle), Ltd. Dividends received by Coffs Harbour from that company in 1965 totalled 230,000 dollars, compared with 60,000 dollars in 1964. Coffs Harbour’s latest result is after tax of 18,000 dollars, compared with nil previously. Apart from the dividends, Coffs Harbour also received 82,036 dollars from Rutile and Zircon Mines in preferential royalties last year, compared with 40.760 dollars the previous year.
During 1965 Coffs Harbour paid dividends totalling 360,388 dollars, against 65,526 dollars the year before. More than 94 per cent of the company’s share capital is owned by Kathleen Investments (Australia).
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Bibliographic details
Press, Volume CVI, Issue 31084, 13 June 1966, Page 17
Word Count
149C. HARBOUR RUTILE Press, Volume CVI, Issue 31084, 13 June 1966, Page 17
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