S. OTAGO PROFIT
Sharp Drop Confirmed (N.Z. Press Association) DUNEDIN, Oct. 10. After nearly doubling allowance for depreciation, taxpaid profit of South Otago Freezing dropped by 27 per cent, or £23,881, in the year to August 31. Shareholders’ funds rose from £1,208,182 to £1,237,061, but earning rate fell from 7.16 per cent to 5.06 per cent. Trading results improved by £36,771 to £295,753, but depreciation jumped from £76,685 to £138,451. Interest rose from £9376 to £18,263, but tax was down from £75,900 to £64,000, leaving net profit of £62,629. Directors recommend unchanged 7i per cent dividend requiring £33,750 and a £33,750 transfer to general reserve, reducing retained profits from £35,887 to £34,766.
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Bibliographic details
Press, Volume CVI, Issue 31187, 11 October 1966, Page 21
Word Count
112S. OTAGO PROFIT Press, Volume CVI, Issue 31187, 11 October 1966, Page 21
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