News in brief

Press, Volume CXI, Issue 32639, 22 June 1971, Page 25

News in brief

J. Hardie profit up The group net profit of James Hardie Asbestos, Ltd, increased $578,368 or 13.7 per cent to $4,789,560 in the year to March 31. The profit was struck after providing $466,802 less for depreciation, and $217,260 more for tax at $5,570,471. The final dividend, of 6.25 per cent makes a steady 12.5 per cent for the year, and it is payable on July 29. Shares delisted Imperial Chemical Industries (N.Z.), Limited, has received acceptances in respect of 279,434 ordinary shares and 54,300 preference shares in the capital of Guthrie Bowron and Company, Ltd. These figures represent 99,8 per cent and 97 per cent of the issued capital respectively. Shares of Guthrie Bowron nave therefore been removed from the official list.

Timor tries again Timor Oil, Ltd, has spudded in its second well on the Suai Loro structure in Portuguese Timor. The well, Suai Loro No. 2, is about three quarters of a mile south-east of the first well. It will test both the hydrocarbon potential already found in the upper zones and the zones below basement which Suai Loro No. 1 was unable to test because of technical difficulties.

Offers withdrawn

Industrial Equity, Ltd, has withdrawn its offers for the ordinary and preference shares of Henry Berry and Company (Australasia), Ltd, because of the increased bid by Beatrice (Aust.) Pty, Ltd, for the ordinary shares.