U.E.B. dividend 8.5c after $9.6M profit

Press, 10 June 1977, Page 14

U.E.B. dividend 8.5c after $9.6M profit

; U.E.B. Industries Ltd. inI tends to raise its annual : dividend rate from 15 per cent to 17 per cent (8.5 c a share) after a year in whichj exports considerably in-' creased profits. The profit for the year to! March 31 rose $2,910,827, or! 43.7 per cent, to $9,578,200. ! The profit represents 5.8 c j jin each 100 c of sales and a; (return of 7.3 per cent oni [assets of SI3IM. I The trend in sales clearly] j established in the first half! (of the year continued to the! iend of the financial year, ithe directors say. The company expends I considerable effort on increasing its exports, they! isay. I Volume-growth in all main!

divisions was shown in both domestic and export markets.

Total sales increased i537.9M, or 30 per cent, to 15163.9 M. A record $18.5M i was in exports, which rose 'BB per cent as a result of i higher exports of carpets, icarpet yarn, and lucerne, j The latest profit increases (the earning rate on unI changed ordinary capital from 30.5 per cent to 43.1 per cent, covering the divi-i dend 2.54 times. A final dividend of 11 per cent (5.5 c a share) is pay-] able on August 18, ex divi-] dend July 29. The annual meeting, on 1 August 17, will be held in | Christchurch, for the first, time.