Lanes profit a record
(N.Z. Press Association)
WELLINGTON, June 18. The unaudited net profit of Lanes Industries, Levin, increased about $15,300, or 20 per cent to about $90,000 in the year to March 31, the chairman, (Mr W. O. Young) said in a preliminary report.
The directors recommend a 2 per cent increase in the dividend rate, making 12 per cent for the year, payable on July 30.
The dividend requires $43,200. It is covered twice by the profit.
The profit is the highest earned by the company since it became a public company in November, 1963, and the increase in the dividend rate returns it to the rate paid in the first three years as a public company.
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Bibliographic details
Press, Volume CXI, Issue 32637, 19 June 1971, Page 20
Word Count
119Lanes profit a record Press, Volume CXI, Issue 32637, 19 June 1971, Page 20
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