Tubemakers confident
INZPA Sydney Tubernakers of Australia,! ■Lid, reports that net earnings for the six months to; December 31 fell 3.7 per cent ot sAusts.9M. However, the' profit represents a 15 per cent , improvement over the figure for the half-year to .June 30. i Earnings for the full year should show an improvement over the $11.3M earned in the (last full year the directors ■ say. Factory output in the last' half-year was down, but sales ■revenue rose 12 per cent to $154.2. Tubemakers raised $9.2M overseas on December 10 for !financing the Australian activities. Tubernakers’ total profit for the six months increased 2.3 per cent to $6.7M after bringing to account an extraordinary gain of $724,000, arising from exchange fluctuations. It lost $320,000 because of exchange fluctuations in 1975, but was offset by a $668,000 capital profit on the sale of: investments. The interim dividend has been held at 3c a share, payable on April 5 to shareholders on the company’s books by March 17. The annual rate was main- ' tained at 7c a share in 1975-'' 76 although net earnings fell . 26.4 per cent.
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Press, 23 February 1977, Page 23
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185Tubemakers confident Press, 23 February 1977, Page 23
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