REPCO LTD PROFIT ALMOST STEADY

Press, Volume CVIII, Issue 31764, 22 August 1968, Page 19

REPCO LTD PROFIT ALMOST STEADY

(N.Z. Press Association —Copyright)

SYDNEY, August 21

After five years of solid gains, Repco, Ltd, leading car parts maker, earned a virtually steady profit in the year to June 30.

The latest result is $4.802,532—up by $20,678 on the 1966-67 earnings of $4,781,854. Dividend will be maintained at the established 15 per cent rate with a final payout of 7) per cent. Directors say the rate of increase in earnings has been reduced by rising costs caused mainly by the recent revisions in the metal trades award.

But in the first half of the year before the award, profit only advanced a marginal $34,000. Earning Rate Down

Directors say in yesterday's preliminary report that selling prices have been raised in many areas because of cost increases.

Taxation for the period was $3,524,948, which, although calculated at the new rate is only slightly higher than the 1966-67 adjusted figure of $3,522,569.

Earning rate on year-end capital was 22.2 per cent against 24.3 per cent for 196667. The decline was because of increases in the capital caused by the group's take-

over activities during the year (including W. C. Stevens in April). Directors say that in almost every area of business, except exports, which were affected by devaluation, turnover increased significantly.