Dividend, Profit Fall For New B.H.

Press, Volume CIX, Issue 31923, 26 February 1969, Page 20

Dividend, Profit Fall For New B.H.

(N Z. Press Association-~Copyright> MELBOURNE, February 25. Australian silver, lead and zinc miner, New Broken Hill Consolidated, Ltd, will recommend a lower final dividend of Is 9d for the year to December 31. This compares with the previous year’s final dividend of 2s.

The interim dividend for 1968 was also lower at 9d (previous year Is). The directors reported that group net profit for the year before royalty and tax payments and after depreciation payments was more than slm lower at $5,456,000, a fall of 17 per cent.

The results were adversely affected by loss of production through industrial action and partially offset by higher lead and silver prices and lower charges for royalty and taxation.

Depreciation charges were slightly higher at 8395,000. Transitional relief under the Finance Act, 1965, was also lower at 8283,000. This left group net profit 15 per cent lower at 82,788,000, compared with 53,290,000 for the previous year. The directors said that the recommended final dividend, if approved at the annual meeting on April 17, will absorb $1,830,000 against $2,197,000 previously. This w ill leave $508,000 to be retained in the business. Directors said that the dividend will be paid on May 6 to shareholders registered on March 24

Petersville Still Lifting Profit (N.Z. Press Association) SYDNEY, February 24. Petersville Australia, Ltd, the largest Australian-owned food group, has continued its run of rising profits with a 30 per cent increase in earnings in the six months to December 31. The company intends to pay a steady interim dividend of 6 per cent The annual rate paid since 1963-64 is 12J per cent.

Huge Cost Of Accidents

Industrial accidents are costing Australia more than $750 million each year, according to the managing director of B.P. Australia, Ltd (Mr S. Fox). Mr Fox said this week that industrial accidents caused the loss of 4so lives in Australia last year, while a further 300,000 persons were injured. This is almost four times the number injured on the roads.