COMMERCIAL Dividend maintained by Peko – Wallsend

Press, Volume CXV, Issue 33932, 27 August 1975, Page 18

COMMERCIAL Dividend maintained by Peko - Wallsend

'Feip Zealand Frees Xsaoeiatton-rHjepvrtsht' SYDNEY. Peßo-Wallsend, Ltd, has maintained its total dividend distribution for the year to July 8. at a steady 15 cents per share (80 per cent) despite a fall in profits of 39 per cent to $A7m.

The result was after a rise in depreciation and redemption of 3.8 per cent to $7.9m. and nil tax (sl.Bm last year). The director? said gross income rose 29 per cent to $105.8m. The major contribution to gross income came from the sale of mine products, which rose 34.7 per cent to $75.1m. Directors noted that the

trading profit included an income tax benefit of $35(5,610, but was before extraordinary items. After taking into account extraordinary items of loss of s).om (credit sl.2m) net profit for the year would stand at $5.9m ($10.7m)The extraordinary items comprised capital profits realised, and income tax of prior years, offset by mining rights written off. In the previous year, the extraordinary items represented capital profits real? ised of sl.2m. The directors also noted that in arriving at the previous year’s profit figure.

abnormal items of $2.3m were deducted, after tax on these of s?.3m. Reporting on the company’s total output for the year, the directors said copper production fell 38 per cent to 17,159 tonnes. Gold output also fell 7 per cent to 183,791 Ounces. Silver output was down, from 188,919 ounces to 106,345 ounces. Bismuth in concentrates rose from 535,106 kgs to 754,755 kgs, and selenium in concentrates from 25,364 kgs to 36.271 kgs.

Tungstic oxide output was also higher as was washed coal-