Bonds profit declined

Press, Volume CXI, Issue 32715, 18 September 1971, Page 22

Bonds profit declined

(N.Z. Press Association) WELLINGTON, Sept. 16. Bonds Hosiery Mills, Ltd, reports that the net profit for the six months to July 19 is lower than that for the same period of 1970. The company has disposed of its shareholding in Hillcastles N.Z., Ltd, with a view to making better use of the funds involved. Although sales for the rest of the group are ahead it is unlikely that the profits for the current year will reach last year’s level, the report says. Increasing costs continued to affect all sections of the business. An interim dividend of 6 per cent payable on September 30 has been declared, ex dividend September 20. The directors say that they see no reason why the company will not be able to maintain the 17 per cent annual rate. Express profit down The net profit of the New Zealand Express Company, Ltd, for the year ended June 30 was $50,038, compared with $60,636 in the previous year, according to the com>any’s preliminary statement. Only the preference shares are now listed, after the merger this year with Allied Freightways, Ltd, to form Freightways Express, Ltd.

Rights market

Buy Sell Last Sale Broadlands .. 24 26 26 Carter C.S.I. .. 15 10 17 8 I. W. Dow ’* 6 8 8 Ind. Chem. 12