L.N.C. record year again

Press, Volume CXV, Issue 33941, 6 September 1975, Page 19

L.N.C. record year again

(N.Z. Press Assn—Copyright) SYDNEY. L.N.C. Industries, Ltd. will i pay a bonus dividend of 5 per cent after group net trading profit rose 44.8 per cent to $4.6m in the year to June 30. The company is the biggest independent motor vehicle distributor in Australia. Sales in the second half of' the year rose after the tern-; porary reduction in sales tax. I Earnings in the half-year to December 31 rose only 0.5 per cent. The profit, the . seventh consecutive record, was after sales rose 26.1 per cent to slB3m. ■ The larger group made its; first full-year contribution, I and tax-effect accounting! contributed $373,221. The ordinary final and bonus dividends total 17.5 per cent, making a total of 25 per cent for the year (previously 20 per cent). An extraordinary profit of $62,622 was realised compared with $500,070 previously. The earning rate on divi-dend-ranking capital rose from 68.32 per cent to 98.95 per cent. The group has made a one-for-five par issue, which ranks for dividends from July 1UP and ICI domi Two of Britain’s biggest companies — British Petroleum, Ltd, and Imperial Chemical Industries, Ltd, have reported sharply reduced profits. British Petroleum’s net profit for the three months to June 30 fell 59.7 per cent to £37.3m compared with the same period last year. ICI reported a fall of 37.8 per cent in pre-tax profits to £lsBm. The economic recession was affecting the group trading results in fibres and plastics.