Allied Press profit rose 17 per cent

Press, 29 November 1976, Page 22

Allied Press profit rose 17 per cent

Allied Press, Ltd, publish-1 ers of the “Otago Daily' Times,’’ ■ and the “Evening Star,” report that for the six months to September 30, 1976, unaudited group net profit, including equity-pro-fits of associated companies rose 17 per cent or $40,286 to $277,265. Turnover increased 14.8 per cent to $3.7M. The profit was after providing $17,000 more for tax and taxation provided was at $150,900. The share of equity profits for associated companies rose $22,508 to $25,163. In the latter part of the six months advertising-vol-ume showed satisfactory increases, but costs, especially newsprint and wages, also increased. The maximum dividend that could be paid in the

“dividend year” to May 14, 1977, is 10.1 c a share. The directors have declared an interim dividend of 2.6 c a share (2.6 per cent) which will be distributed from the share premium account, and will be tax-free in the hands of shareholders. This dividend will be paid on December 16.