Oakbridge to pay 5c for half-year

Press, 22 February 1977, Page 18

Oakbridge to pay 5c for half-year

N \ Sydney] Oakbridge. Ltd, has raised its interim dividend from 4c to 5c a share, payable May] 6, after a 53.8 per cent in- ] crease in net earnings in the half-year to December 31. The mining, manufacturing and finance group, had a net trading profit of l SAust 2,862,000 compared with 81,860,000 previously, i A further profit improve-1 ment was expected in the' second six months of the financial year, and record! earnings for the full year, the chairman (Mr G. Mapp)] says. The group’s mining inte-] rests, which represent 57.5! per cent of total earnings; contributed an improved pro-; fit of $1,779,000, compared with $1,208,000. The increased mining profits came entirely from coal.

j The results of Ravenhoe I Tin were adversely affected .by production difficulties the first quarter, but production was restored to , normal levels during Novem ; ber. ! Manufacturing, which contributed 31.1 per cent of !] total earnings, improved its net profit from $704,000 tn 1 $965,000. and finance and I net profit from $195,000 to ] $356,000. II Revenue rose 16.5 pei i cent to $30.8M. 11 The accounts no not take . into account any tax benefit arising from the stock value adjustment available for the I current financial year i Extraordinary items, not included in the above figures, totalled a loss of $365,000 I (previously a loss of j 5267,000) resulting from exchange fluctuations on repayment of overseas Joans