MAIR PROFIT HIGHER

Press, Volume CXII, Issue 33094, 8 December 1972, Page 18

MAIR PROFIT HIGHER

Bonus dividend proposed The audited group net pro. fit of Mair and Company, Ltd, produce exporter, for the year to September 30, was $189,742, the directors say in a preliminary report. There is no comparative figure available for the full group trading in 1971 because Mair and Company did not have a controlling interest in the subsidiary companies until September 30, 1971. However, if the net profits earned by the subsidiaries in 1971 were added to the parent company’s profit for that year, the comparable figure would be $161,789. The directors recommend the payment of a final dividend of 12.5 c a share (12| per cent), making 20 per cent for the year as forecast in the prospectus. They will also recommend the payment of a 2 per cent tax-paid bonus dividend, which has been approved by the Minister of Finance.

The directors will also recommend to shareholders that the present 100 c shares be divided into two 50c shares. This would increase the number of ordinary shares in the company to 666,000.

Mr L M. Papps, who has been elected to the newlycreated position of deputy chairman of the board of directors of Dalgety New Zealand, Ltd. Mr Papps, a senior partner in the Wellington law firm of Bell, Gully and Company, joined the Dalgety board in 1968, and is a director of several other major companies.