A. Springhall more than recovered

Press, Volume CXIV, Issue 33655, 3 October 1974, Page 16

A. Springhall more than recovered

The group net profit of Armstrong and Springhall (Holdings), Ltd. for the year to June 30, was a record §503,382, the directors say in a preliminary report.

The profit increase continues the recovery from the fall in the 1971-72 year when [it was more than halved to $121,109. The profit shows a further strong recovery from the 1973 result of $198,458, and it exceeds, by a substantial margin, the previous record profit of $274,693 achieved in 1970-71. The 1974 profit is after pro-

viding $40,741 more at $463,801 for depreciation and $273,371 more at $351,535 for tax.

All subsidiaries traded profitably, and over all the greatly improved position reflects a strong surge in activity after a period of reconstruction and consolidation, the company said. The earning rate on average shareholders’ funds improved from 9.0 per cent in 1973 to 20.2 per cent. The directors recommend a final dividend of 4 per cent on preference shares maintaining the normal annual rate of 6J per cent. On ordinary shares, an interim dividend of 4| per cent has been paid and because of the improved results a final dividend of 8|

per cent is proposed, making 13 per cent for the year. The rate forecast by the board at the time of the cash and bonus issues early this year was 11 per cent. Total dividend requirements for the full year are $165,945. The annual general meeting will be held on November 29. and the final dividends arp payable on December 2. METALS (N.Z.PA -Reuter —Copyright) LONDON, September 30. Buyer Seller a ton a ton £ £ Copper . .. 626.00 627.00 Tin .'.3760.00 3770.00 Lead -. 234.00 235.00 Zinc .. 387.00 388.00 Silver fine (per oz), 184.0 p, Forward. 187.0 p. Gold fine (per oz), SUSISL2S.