Gadsden Interim Profit Down
(N.Z. Press Association—Copyright)
MELBOURNE, April 7.
J. Gadsden (Australia) Ltd., the big canister and packaging group, earned a lower profit of 1,078,635 dollars in the six months to December 31.
But the directors say in the interim report that they expect the full year to June 30 next to be comparable with the peak of 2,178,737 dollars earned in 1965-66.
The company’s profit in the half-year to December, 1965, was a record 1,285,012 dollars. In the latest period tax was lower at 774,200 dollars (previously 925,700 dollars) and depreciation was higher at 592,457 dollars (552,592 dollars). The directors say that sales for the period increased 8 per cent on those for the corresponding 1965 period. Increased Costs The reduction in profit resulted from increased costs of raw materials, labour, and expenses which so far have ben absorbed in an effort to maintain selling prices. Interim ordinary dividend has been maintained at last year’s higher 4 per cent rate, payable June 7, ex May 13.
Full pay-out last year was raised from 7 per cent to 8 per cent.
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Bibliographic details
Press, Volume CVI, Issue 31339, 8 April 1967, Page 18
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182Gadsden Interim Profit Down Press, Volume CVI, Issue 31339, 8 April 1967, Page 18
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