KING ISLAND SCHEELITE
Profit Jumps 73.6 p.c. (N.Z. Press Assn.—Copyright) SYDNEY, Jan. 23. Buoyed by very strong tungsten prices, the net profit of King Island Scheelite (1947) Ltd. rose by 73.6 per cent to 886,575 dollars in the year to October 31. This compares with the previous year’s profit of 510,759 dollars. The peak profit was in 1955, when the company earned more than 2 million dollars. As previously announced, dividend in the latest year has been more than doubled from 20 per cent to 48 per cent. The latest profit returned 44.3 cents a share (88.6 per cent on capital) as against 25.5 cents previously, and is after sharply increased tax provision of 334,716 dollars (up 305,386 dollars). Depreciation provision is 330,000 dollars. In the previous year depreciation was not provided for, but new plant purchases were fully written off.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19670124.2.170.6
Bibliographic details
Press, Volume CVI, Issue 31276, 24 January 1967, Page 16
Word Count
141KING ISLAND SCHEELITE Press, Volume CVI, Issue 31276, 24 January 1967, Page 16
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.