J. Mcllwraith recovered
NZPA Melbourne John Mcllwraith Industries, Ltd, earned a comparable net profit in the year to June 30 to that earned in 1973-74, after an [ increase in the latest year of 144.3 per cent to $2.3M. Last year net earnings slumped 29.8 per cent to SI.6M. , ’ The directors are celebrating the recovery with an increase in the dividend rate from 7.5 c to 8c a share, although the distribution is still below the 8.25 c a share paid in 1974.
Sales revenue rose 14.6 per cent to $85.7M, after being ahead 11.5 per cent at SSIM for the six' months to December 31. The Melbourne-based company is one of the largest i building-supply groups in jAustralia.
The profit excludes an extraordinary loss of $397,000 ($28,000 profit) and is after providing $600,000 imore at SI.BM for tax, $38,000 more at $581,000 for depreciation, and a fall of $250,000 to S2.IM in interest on borrowings.
The annual dividend requires SI.2M (SI.IM). A final payment of 4.25 c a share is recommended.
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Press, 16 September 1976, Page 22
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171J. Mcllwraith recovered Press, 16 September 1976, Page 22
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