Profit $6m But No Div.
(N.Z. Press Association)
MELBOURNE, May 12.
Mobil Oil Australia, Ltd, almost doubled its profit in 1968 from $3,470,433 to $6,670,488, but it will not pay a dividend.
The chairman and managing director (Mr K. F. Madsen) says in his report that the company’s return on assets was only 4.2 per cent and the company once again will reinvest for expansion. Its last dividend, to the United States parent company, Scony Mobil Oil, Inc., was paid in 1951. The latest result was after tax provision also had almost doubled from $3,017,000 to $6,396,000. Gross revenue was up from $193.4m to $212.9m.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19690513.2.159.11
Bibliographic details
Press, Volume CIX, Issue 31986, 13 May 1969, Page 24
Word Count
105Profit $6m But No Div. Press, Volume CIX, Issue 31986, 13 May 1969, Page 24
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.