Marrickville makes marginal profit

Press, Volume CXV, Issue 33966, 6 October 1975, Page 18

Marrickville makes marginal profit

(New Zealand Preus Association—Copyright) SYDNEY. Marrickville Holdings, Ltd, the Eta foods group, earned a group net profit of SAust7379 on sales of SB9m in the year to June 30, the chairman (Mr R. C. Crehbin) says in a preliminary report.

Last year the group made a profit of $881,947 on sales worth $81.6m. Marrickville had a substantial loss in the half-year to December 31, and the group ran at a loss for the first seven months of the financial year, Mr Crebbin says. As previously reported, i the loss arose from the com- ! pany’s potato crisp, bakery, and poultry' divisions. The potato crisp division; has since been sold to Ama-' til, Ltd, and the poultry divi-i sion is up for sale. The company hopes to finalise the 1 sale “within the next few 1 weeks” after trying to sell it for almost a year. Marrickville has maintained its annual dividend at 6.5 per cent, and results for the current financial year

should justify this decision, Mr Crebbin says. Total earnings of the group rose 23.6 per cent to sl.lm after including writeoffs, extraordinary profits and adjustments arising from the introduction of taxeffect accounting. The profit was after providing $15,008 less for depreciation at $984,120. The dividend will require about $515,000.