Tee Vee had good start
(N.Z. Press Association) AUCKLAND, August 4. Sales by Tee Vee Radio, Ltd, were 23 per cent higher since the end of March this year compared with the same period of last year, the chairman of Tee Vee Electronic Industries, Ltd, (Mr J. R. Eckford), said at the group’s annual meeting. The profits of Tee Vee Radio, the group’s trading company, should be at least maintained at last year’s level, subject to any major economic changes, he said.
Tee Vee Electronic Industries’ manufacturing subsidiary, Fountain Electronic Industries* Ltd, was expected to increase production substantially in a new factory completed recently at a cost of $140,000, Mr Eckford said.
The current dividend rate of 13 per cent should be maintained on the new capital increased by both the one-for-five cash issue and the one-for-six bonus issue, he said. The new shares are entitled to only two-thirds of the dividend lor the year to March 31.
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Bibliographic details
Press, Volume CXI, Issue 32677, 5 August 1971, Page 16
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158Tee Vee had good start Press, Volume CXI, Issue 32677, 5 August 1971, Page 16
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