B.P. AUST. ACCOUNTS
Freight Costs Increase GV.Z. Pre»» Ai»n.—CopvrtpM) MELBOURNE, Nov. 1. Group net profit of the British Petroleum Company of Australia Ltd., was more than halved from an adjusted £1.600,595 to £692,862 in the year to June, the company’s directors announced in the annual report released here tonight In spite of increased sales of petroleum products, trading profits were reduced substantially by the high cost of Australian coastal freights and a very-competitive market said the directors. The marketing company incurred a loss of £586.296, against a profit of £79,530 in the previous year.
The cost of moving petroleum products on the coast in Australian flag tankers was £2m, a rise of £1,280.000 sterling on the previous year, directors said.
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Press, Volume CVI, Issue 31206, 2 November 1966, Page 7
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120B.P. AUST. ACCOUNTS Press, Volume CVI, Issue 31206, 2 November 1966, Page 7
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