COMMERCIAL Alcan profit fell; sales down
The profit of Alcan New Zealand, Ltd, fell in the six months to June 30 compared with the first six months of 1974, the directors say in the half-yearly report.
“Customers inventories: are now reduced to a more : normal level and the price increases recently granted makes the outlook for the second half of the year somewhat brighter. “As predicted by the chairman (Mr J. B. Clarkson) in his address to share- • holders at the annual gen- * eral meeting, the economy has continued to be weak.
“In addition, customers had excessive inventories early in the year, caused in the main by over-importing during 1974.
“These factors have depressed sales revenues 26 per cent from those achieved during the first half of 1974,” a report from the stock exchange says. The sales or profit amounts were not given. A tax-free interim dividend of 8 per cent (4c a share) will be paid on November 1, from the share premium account, ex dividend October 15. ■ The dividend is at the i same rate as last year’s ‘interim payment.
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Press, Volume CXV, Issue 33958, 26 September 1975, Page 13
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182COMMERCIAL Alcan profit fell; sales down Press, Volume CXV, Issue 33958, 26 September 1975, Page 13
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