Ab Dividend By Tolley Holdings
Tolley Holdings, Ltd, the Wellington engineering and manufacturing group, has passed its dividend for the latest year to March 31, directors say in a preliminary report In 1967 the dividend was reduced from 7 per cent to 6 per cent after the profit fell
$45,971, or 31.9 per cent to $98,192. No announcement of group results is made in the preliminary report although the trading company, Tolley and Son, earned sales and gross profit about the same as the previous year. Reasons For Drop
However, net profit was reduced by non-recurring items including devaluation, loss on contract very high prices for copper and slower than expected build-up of production from the main manufacturing subsidiary, Canada and New Zealand and Associated Cable Company, Ltd.
Both the trading company and C.A.N.Z.A.C. have satisfactory order books and directors expect that profitability of the group in the current year should be satisfactory.
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Bibliographic details
Press, Volume CVIII, Issue 31762, 20 August 1968, Page 16
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153Ab Dividend By Tolley Holdings Press, Volume CVIII, Issue 31762, 20 August 1968, Page 16
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