Hume Industries Profit Jumps
(New Zealand Press Association:
WELLINGTON, August 18.
The profit of Hume Industries (New Zealand), Ltd, rose $339,308, or 183 per cent, to $525,214 in the year to June 30.
This is a sharp recovery i from the profit rates of the : last three years, which were the results of depressed trad-1 jng conditions in 1967 and ’ I 1968. It makes good, to some I extent, the loss of profits' which occurred during those years. The encouraging trading expectations referred to last year were exceeded because of the greater buoyancy in the New Zealand economy. Prospects for 1970-71 are for. a continuation of the , present level of trading, provided the economy of the country does not suffer any , setback, but profit is likely to be at a lower level because of the Introduction of the payIroll tax. The profit was struck after providing $380,150 more for tax at $593,500. and $35,148
more for depreciation at $334,322. A final ordinary dividend of 10 per cent is recommended, making 15 per cent for the year. This is twice the 7 j per cent dividend paid last year.
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Bibliographic details
Press, Volume CX, Issue 32379, 19 August 1970, Page 18
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188Hume Industries Profit Jumps Press, Volume CX, Issue 32379, 19 August 1970, Page 18
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