Norvic profit $142,000
The net profit of Norvic Footwear, Ltd, eased about $3OOO to about $142,000 in the year to January 19, tlje directors say in a preliminary statement. A final diVident of 7.5 c (7| per cent) maintains the annual rate at 12| per cent on capital increased by last year’s one-for-10 bonus issue. The divident is payable on April 8. Foreign capital needed The investment manager of the Australian Mutual Provident Society, Ltd (Mr A. Conts) strongly backed the need for foreign capital to develop large scale secondary processing industries in Australia. Speaking at a seminar on corporate finance he said that no foreign cpmpanies could be induced to invest in the development of Australia’s natural resources without partnership arrangements. They would be attracted to other countries which were equally as rich. He urged the Government to follow a flexible policy with regard to foreign ownership and capital inflow. (
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Bibliographic details
Press, Volume CXIV, Issue 33464, 20 February 1974, Page 17
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151Norvic profit $142,000 Press, Volume CXIV, Issue 33464, 20 February 1974, Page 17
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