NMA profit falls 20.3 per cent
The group net profit of NMA Company of New Zealand, Ltd, fell 20.3 per cent to $1,243,000 in the year to June 30, the directors announced in a preliminary report. The result is subject to audit, and excludes minority interests.
A final dividend of 8| per cent gross is recommended — of which 4 per cent would be paid from capital reserve —due on November 17.
After the 4 per cent Interim this maintains the annual rate of 12| per cent. Taxation provisions, including payroll tax, amounted to sl,l3B,ooo—compared with $1,490,000 in 1970.
Net capital surpluses from assets sold were $130,000, whereas in 1970 $42,000 was i derived from this source.
In addition, unrequired tax provisions and tax paid, now recovered, totalled $115,000 compared with $33,000 in the previous year. The amount available for distribution after the above adjustments, and after making provision for amounts written off unquoted investments, is $1,474,000 ($1,626,000 last year), and of this the dividend will absorb a total of s7s3,ooo—leaving profits retained in the business of $721,000.
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Press, Volume CXI, Issue 32701, 2 September 1971, Page 16
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177NMA profit falls 20.3 per cent Press, Volume CXI, Issue 32701, 2 September 1971, Page 16
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