Arnotts raises profit div.
Arnotts, Ltd, Australia’s largest biscuit-maker, is increasing its dividend from 7.5 c to 8.5 c a share, after raising profits 26.3 per cent to sAust7.6M in the year to June 30. The final dividend rate is steady at 4.5 c a share, but payable on shares issued in the recent 1:4 bonus issue.
Arnotts increased earnings 35 per cent to $4.4M in the first half of the financial year, but growth was reduced substantially in the second half, with earnings showing an increase of only 16 per cent, to $3.2M. Group sales for the year were up 15.2 per cent to SIB2M.
The profit was before extraordinary and minority interests, which reduced the earnings attributable to members of the company to S7.IM, compared with $5.7M previously. Tax provision was $500,000 more at SSM, depreciation $600,000 more, at $3.4M and interest $26,000 less, at $428,000.
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Press, 18 October 1976, Page 24
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148Arnotts raises profit div. Press, 18 October 1976, Page 24
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