Profit Fall By A.B. Cables
Although Associated British Cables, Ltd, Christchurch, earned a record turnover of more than $5.5m in the latest year to March 31, the group profit fell $71,166, or 19.8 per cent, to about $290,000, says the chairman (Mr A. T. Young) in a preliminary report. As announced, the dividend has been maintained at 11 per cent. The profit for 1967 was $101,158 less than in 1966. The profit margin has been reduced for a number of reasons, says Mr Young. Current sales appear to be running at a lower level but directors took all factors into consideration before making their recommendation, of a final dividend of 5j per cent. The results are approximate only and subject to audit, he says.
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Press, Volume CVIII, Issue 31726, 9 July 1968, Page 16
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124Profit Fall By A.B. Cables Press, Volume CVIII, Issue 31726, 9 July 1968, Page 16
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