PASTORAL HOLDINGS
Sharp fall in profit
The group net profit of N.Z. Pastoral Holdings, Ltd, for the year to June 30 was $21,202, the directors say in a preliminary report. This compares with a profit of $63,524 the previous year. The directors say that they have added to this year’s profit $11,125 from the Income Equalisation Reserve, on uplifting the deposit under the Inland Revenue Department scheme, giving a total of $32,327 to be added to undistributed profits from previous years—from which they recommend a dividend of 6 per cent amounting to $43,869, leaving $52,515 undistributed profits to be carried forward. New shares issued as consideration in the take-over of Agricultural Industries of New Zealand, Ltd, will participate in the dividend to the extent of five-twelfths (2.5 c a share) and $79,224 has been credited to capital reserve from the premium on the issue of shares in the takeover.
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Bibliographic details
Press, Volume CXIV, Issue 33693, 16 November 1974, Page 20
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149PASTORAL HOLDINGS Press, Volume CXIV, Issue 33693, 16 November 1974, Page 20
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