Lower earning by Bundaberg

Press, 19 July 1976, Page 14

Lower earning by Bundaberg

NZPA Brisbane Bundaberg Sugar Company Ltd, reports an audited group net profit of $Au5t9,767,893 for the year to April 30. The profit represents 80.7 cents a share on capital increased by the one-for-four bonus issue made in April. The profit was 4.2 per cent higher than the $9,379,926 in the previous financial year, and it was after providing $798,776 less at $6,537,824 for income tax, but $642,328 more at $1,677,584 for depreciation. It includes 10 months’ results of the company's most recently acquired subsidiary, Millaquin Sugar Company Pty, Ltd, and extraordinary items of $944,204, but excludes outside shareholders’ interest of $11,596. The group received an average of $237.20 a tonne for sugar produced in 1975. compared with $258.78 a tonne for sugar produced the previous year.

The directors have recommended a final dividend of 15c a share on the bonusincreased capital, after an interim dividend of 15c a share on pre-bonus capital. Subject to approval by shareholders the final dividend will be paid on September 10. All mills commenced crushing towards the end of June. Estimates indicated a record 3,200,000 tonnes of cane for harvest. The annual meeting will be held in Brisbane on September 10.