G. Court struggles to maintain profit

Press, 26 February 1977, Page 17

G. Court struggles to maintain profit

George Court and Sons. Limited earned an unaudited profit for half-year to January 19 of $119,891, after sales revenue rose 12.9 per cent to $4,276,607. Operating costs continued to increase; the rate to sales for the half-year was 29.35 per cent against 29.0 per .cent last year, but this was more than offset by an improved gross profit rate. Providing trading conditions remain reasonably .stable through to July 19, I and inspite of further cost increases, particularly wages, expected during that ! time, the directors expect ’that the results for second, ’half-year to be in line with’

. that achieved for the first I six months. The increased investment in stocks and customers’ receivables continues to im- ‘ pose a steadily increasing strain upon cash resources, ; the directors say. ; In the previous corresi ponding half-year the retailring group earned a net pro- , fit of $66,235, and the profit ■ ’for the full year recovered $128.6/3 to $144,073. An interim dividend of 5 ■ per cent (5c a share) will be , paid on April 14, ex divi-l (dend April 5. The rate is an’ ■ 'increase of 1 per cent on the’ : I interim rate paid last year: : the directors do not expect ’the dividend regulations to ilbe rg-imposed on May 14. I