Boral growth record remains intact

Press, 2 March 1977, Page 21

Boral growth record remains intact

tNZPA i Sydney li Bora!, Ltd. increased i 1 group net earnings by 41.4' per cent to sAustB.lM in the, 1 six months to December 31. ; The increase compares; l with a 17.2 per cent rise in; net profit in the six months;, to December 31. 1975, and a 3LB per cent increase in theii past year to June 30. Sales revenue rose by 17.7 ■ per cent to $129.4M in the 1

latest half-year. The profit was after a 10,3 per cent increase in tax to SSM, a 9.5 per cent increase

;in depreciation to $4.7M and a 5.9 per cent fall in interest'; I expenses to $2.2M. I A steady interim dividend!, ■of 6.25 c a share is payable; Jon April 30 to shareholders! Registered on April 7. j Shareholders in the 1 diversified building and road-, ling products group had been l ; Told to expect a good result; 1 .for the half-year by the - chairman (Mr P. H. Finley)' the annual meeting in No-!

ivember. Demand was particularly better for Boral’s quarrying, concrete and road surfacing products and services. There was a slow, but steady improvement in demand in most markets in which the group traded. The improvement in the profit was partly attributable to the take-over of Cyclone Company of Australia, Ltd, Boral Basic Industries and Glen Iris Brick Consolidated. The Cyclone division was affected by di cult conditions in the rural sector, but this was offset by sales to industry and exports, particularly to the Middle East. The November devaluation of the Australian dollar will make the division’s Austra-lian-produced goods more competitive overseas, and will materially assist exports, the directors said. The sale of clay bricks improved in Victoria in the half-year and in Queensland, where the company’s plant

is now operating at full ca pacits.

The additional brick-pro 1 duction facility being installed in Brisbane is ex slpected to be in production in November ; The concrete-products di.vision is now trading particularly in the ('Melbourne market, after • Isome strong competition. )i Demand for pre-stressed I . concrete is high, and the! j company’s factory is oper-) dating at full capacity. I The gas-marketing division ’increased sales in all areas jiwithin Australia and the. 'lPacific Islands. The division) jiis expected to benefit hand-1 ,jsomely from the recent ac'{quisition of the Sydney i liquid petroleum gas bust-1 ■jness of Esso Australia Ply, '■Ltd, and the New Hebrides' ! )gas business of Hebrigaz. ’) Steel reinforcement is now H being marketed in Perth i after the opening of a fac-! ijtory there 'this month, and - work has started on a steel t reinforcement factory at i Springvale, Melbourne, to • replace temporary facilities. [ Offer unconditional NZTS Holdings, Ltd, re- > ports that Victoria Laundry! I)acceptances have been re-' ; ceived in respect of more I than 90 per cent of the ;| shares’ which were not pre-1 : viously owned, and the offer! Jis therefore declared to be t| unconditional.