Sales gain lost

Press, 15 July 1976, Page 20

Sales gain lost

Salmond Holdings. Ltd. pharmaceutical, food and brushware group, earned a marginally higher profit in the year to March 31, in spite of a 16 per cent rise in sales. The net profit on an equity accounting basis was $303,484 compared with an adjusted profit of $300,804 for the pre-; vious year.

Losses by subsidiary companies. and higher provisions for depreciation, after adopting straight-line methods, reduce the gains from higher sales. The dividend rate has been held at 12 per cent; a final 7 per cent payment is being recommended by the[ directors.

Shares issued in last year’s one-for-five bonus qualify for the total payment, which equals a dividend of 14,4 per cent on pre-bonus capital. : The earning rate on capital for the year was 22.9 per) cent.

Last year’s profit represented a return of 27.6 per cent on capital before the bonus and 22.7 per cent on capital after it.

The group’s profit, excluding associated company interests was $326,145 compared with $301,258 previously.

The final dividend is payable on September 1, and shares will be ex dividend on August 19.