Tax Takes Cream Off EZI Profit
(N.Z Press A«»ocidtton— Copyright)
SYDNEY, February 25
EZ Industries, Ltd, of Australia, increased its group operating profit by 64 per cent in the six months to December 31, but provision for tax has held the interim dividend at 5 per cent.
Group operating profit after depreciation but before tax was $7,122,000, the directors said. The previous year it was only $4,330,000. The improved result was largely attributable to increased sales of zinc metal and higher prices obtained for zinc, lead and copper. It had been necessary to make some provision for income tax for Electrolytic Zinc Company of Australia, Ltd, this year however, and
the unaudited net profit, after tax and depreciation was $4,965,000, they said. The world-wide demand for zinc had continued at a high level throughout the period, and it was expected that there would be no difficulty in the disposal of the company’s increased output from Risdon during the remaining months of the financial year. The interim dividend is payable on April 30: ex dividend March 19.
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Bibliographic details
Press, Volume CIX, Issue 32232, 26 February 1970, Page 15
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176Tax Takes Cream Off EZI Profit Press, Volume CIX, Issue 32232, 26 February 1970, Page 15
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