NEWS LIFTS PROFIT

Press, Volume CVI, Issue 31319, 15 March 1967, Page 19

NEWS LIFTS PROFIT

Recovery By Television GV Z. Press Assn.— Copyright) ADELAIDE, March 14. Directors of News, Ltd, report that in spite of substantially increased costs group profit was higher during the six months to December 31, 1966, compared with the same period last year. An appreciable increase in group revenues had more than off-set high costs, although it was clear that costs would rise even further during 1967. The circulations of newspapers and magazines had continued to increase. Television The drop in television profits had been arrested and the contribution to the group profit by its television subsidiary had increased. It was expected that the group’s group profit would continue at a higher level in the second half of the financial year compared with the same six months of 1965. , Directors have declared an unchanged interim dividend of 5 per cent.

Mr T. McCristell is chairman of directors of Dominion Fertiliser Company, Ltd., Dunedin, in succession to Sir Carl Smith, who is retiring at the end of this month. Mr Paul Sawers, at present secretary, has been appointed secretarymanager.