F.T.C. sales up, profit down
Sales of Farmers Trading Company, Ltd rose 9.8 per cent to more than $46 million in the six months to September 30, but group net profit fell 11.9 per cent to $1,169,044. Trading profit before tax rose 23.2 per cent to $3,265,095, the chairman (Mr R. H. Busfield) says in the half-yearly report. Higher provision for unearned profits on timepayment sales reduced the net figure to sl.2m.
The directors have decided to adopt a policy of paying interim dividends; they have declared a 5 per cent interim dividend in respect of the year to March 31, which will, subject to consent of the Court, be paid from the share premium account This dividend is payable on January 30, ex January 8. The directors also advise that, provided trading continues at the current level, they expect to be able to recommend a final dividend of 10 per cent for the year to March 31, thus maintaining the present 15 per cent annual dividend rate.
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Press, Volume CXV, Issue 34012, 28 November 1975, Page 16
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168F.T.C. sales up, profit down Press, Volume CXV, Issue 34012, 28 November 1975, Page 16
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