Amatil profit rises

Press, 7 August 1976, Page 17

Amatil profit rises

PA Sydney The group net profit of Allied Manufacturing and Trading Industries, Ltd, rose 84.5 per cent to sAust6.6M in the six months to April 30, but this profit is not spectacular as might appear, because the profit in the corresponding period last year fell from $7.5M after the meat and pastoral division failed to reach budget. The results were affected ! by severe competition in the i printing and packaging activities, a major cut. in .production of frozen vegetables, and depressed cattle prices, the directors say.

And they note that the improvement in results oyer the previous corresponding period is not necessarily indicative of the performance expected for the full year. This is partly because the six months to April 30, 1975, showed an abnormally depressed profit because of the delayed amendments allowed in the selling prices of tobacco products. The profit was after providing $228,000 less for tax at $5.4M, and $492,000 more for depreciation at $5.7M. The interim dividend is unchanged at 7c a share, payable September 9.