Profit falls, but div. raised
NZPA Melbourne David Syme and Company, Ltd, publishers of the “Age,” Melbourne), has increased the annual dividend fron 10cj a share to 10.5 c a share despite a 3.7 per cent fall to sAustl.sM in consolidated trading profit for the year to June 27. The latest downturn comes after a 22.5 per cent! fall in profits in the pre-1 vious corresponding period. I The directors have attributed the decline in 1975-76,1 to a six-week overtime ban| culminating in a 13-day[ industrial stoppage, and the closing of the assembly operation of a subsidiary, caused by increased manufacturing costs. In the six months to December the group had a 23.8 per cent fall to $527,000 in profits. In the six months to June however, earnings rose 11.7 per cent to SI.OIM. A final 5.5 c a share is payable on November 26.
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Press, 18 September 1976, Page 15
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145Profit falls, but div. raised Press, 18 September 1976, Page 15
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