PHILLIPS AND IMPEY
IxjwerProfjt, Div. Steady
(N.Z. Trett AttociaHon) AUCKLAND, Oct. 13. Phillipps and Impey, Ltd, Auckland glass, paint and wallpaper merchant, is holding its dividend at 11 per cent inspite of a 15.2 per cent drop in consolidated net profit in the year to August 31. At $235,000, profit was $42,120 lower, the directors say in a preliminary statement .
The fall was caused by lower volumes and margins in the company’s glass activities, resulting from the Government’s policy of restricting building construction.
In all other departments sales and margins had been maintained.
The earning rate on capital eased from 23.9 to 20.2 per cent The total dividend requirement is $127312. The final dividend of 7 per cent is payable on December 4, ex dividend November 20.
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Bibliographic details
Press, Volume CVII, Issue 31500, 14 October 1967, Page 18
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127PHILLIPS AND IMPEY Press, Volume CVII, Issue 31500, 14 October 1967, Page 18
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