Phillipps, Impey’s Forecast Lower
(New Zealand Press Association)
AUCKLAND, April 19.
Phillipps and Impey, Ltd., Auckland glass, paint and wallpaper merchant, has held its interim dividend at 4 per cent, but expects profit for the. year to August 31 to be down pn that of the previous year.
In an interim report, directors say that as forecast, further intensified restrictions on credit and the Government’s policy of slowing down the building Industry in particular and the economy in general, have become increasingly effective. The reduced demand has resulted in lower turn-over in certain departments, although over-all sales are only slightly below last year’s peak for the first half-year.
These, combined with some lower gross profit margins, are expected to reduce profit for the full year. Last year, the consolidated net profit rose 22 per cent to a record £138,560, earned at the rate of 11.3 per cent on funds and 23.9 per cent on capital. The dividend is held at 11 per cent. The interim dividend is payable on June 1, ex May 19.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19670420.2.127.5
Bibliographic details
Press, Volume CVI, Issue 31349, 20 April 1967, Page 13
Word Count
174Phillipps, Impey’s Forecast Lower Press, Volume CVI, Issue 31349, 20 April 1967, Page 13
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.