Dalgety Sees Rise In Future Profits
Profits of Dalgety and New Zealand Loan, Ltd., London, should increase in the next few years, justifying the expenditure and effort of expansion, says the chairman (LieutenantColonel C. P. Dawnay) in his annual report.
As announced, group profit fell £84,054, or 4.5 per cent, to £1,942,224 in the year to June 30.
Total dividend is 12 per cent, against 10 per cent the year before. The future is not easy to forecast, says Colonel Dawnay.
The Australian drought will affect profits, both in the current year and possibly the year after.
New Zealand is unlikely to have another season as good as the last. Higher Costs
Increased costs will have to be faced in Australia and New Zealand and, because of the selective employment tax, in the United Kingdom. Earning rate on average ordinary shareholders’ funds slips from 7.6 to 6.9 per cent and that on average ordinary capital is down from 18.7 to 17.8 per cent. The latest profit Is after providing £22,010 less for depreciation at £1,319,209 and £83,624 less for tax at £1,809,532.
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Press, Volume CVI, Issue 31223, 22 November 1966, Page 21
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182Dalgety Sees Rise In Future Profits Press, Volume CVI, Issue 31223, 22 November 1966, Page 21
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