Good Half-year By Aust, Guarantee
(N.Z. Press Association-Copyright) SYDNEY, January 25. Australia’s biggest hire purchase group, Australia Guarantee Corporation, Ltd, increased its net profit by 14.2 per cent, or $490,000, to $3,490,000 in the half-year to December 31, compared with the corresponding period of the previous year, according to accounts released today.
The interim dividend is held at 7| per cent. The shares involved in the one-for-five premium issue at $1 a share in December do not rank for the interim but participate in the final dividend.
Gross receivables rose 12.61 per cent on the figure at June| 30 to $332.9m. The tax provision is down! $220,844 to 52.46 m and the | 5222.844 cut in tax provision, amounted for about half the| increase in profit. '
I On the other hand, the depreciation charge was increased by 5270.000 to $2,350,000. | In the 12 months to June 130, 1967, group profit had [risen from $5.5m to $6.4m, ' while the earning rate has
eased from 29.1 per cent to 28.3 per cent on capital increase by a one-for-seven bonus issue.
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Bibliographic details
Press, Volume CVIII, Issue 31587, 26 January 1968, Page 21
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177Good Half-year By Aust, Guarantee Press, Volume CVIII, Issue 31587, 26 January 1968, Page 21
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