Am. Pac. result below forecast
(IV.Z. Press Association) AUCKLAND, Aug. 3. Amalgamated Pacific Industries, Ltd, Auckland engineer, coach builder and aircraft agent, earned an unaudited net profit of $106,815 in the year to March 31, the directors have announced in a preliminary report. The recommended dividend of 9 per cent is in accordance with the forecast made last year, when the company was part, of the Seabrook Fowlds group that was not merged with the N.Z. Motor Corporation, Ltd. The result represented an earning rate on capital of 13 per cent. The dividend was covered 1.4 times, whereas the directors predicted, that the dividend would be covered twice.
The final 5 per cent dividend will be paid from capital reserves, and it will be tax-free. It is payable on September 7, ex dividend August 28. The directors issued a “don’t sell” warning on July 8. They now say that negotiations are still proceeding, and a statement will be made within two weeks.
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Press, Volume CXI, Issue 32676, 4 August 1971, Page 14
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162Am. Pac. result below forecast Press, Volume CXI, Issue 32676, 4 August 1971, Page 14
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