Commercial T.J. Edmonds shows benefits of exporting

Press, 11 June 1977, Page 16

Commercial T.J. Edmonds shows benefits of exporting

T. J. Edmonds, Ltd, in-1 creased audited group net profit $180,821 or 52.0 per i cent to $528,884 in the year jto March 31. j The net profit was; : $348,063 for the previous ] year. i The latest profit was after] providing $15,081 less at $22,160 for taxation downs land $22,633 more at’ | $308,959 for depreciation. The auditors have i qualified the account, be-1 ’cause the company has not] ’adopted the straight-line i method of depreciation.

Equity accounting has not] been applied, but the group’s] share of associate companies] results some of which are; subject to audit, is $100,864| compared with $33,241 in the previous year. For the first time, export; sales were more than 50 peri cent of total sales, and the substantial improvement in] profit results almost entirely]

;[from the increase in export ;! activities. The final dividend recom![mendation is 12.5 per cent 1] (12.5 c a share) payable Augi ust 18. This makes the total [dividends for the year 17.5’ :[per cent (17.5 c which is an! ■[increase over the previous ;’year of 2.5 c a share. 11 At the annual general [meeting of shareholders to. Ibe held on August 18, the [directors will recommend a' J bonus issue to shareholders '[of one fully paid ordinary I share for each eight shares; [held by shareholders. This | bonus issue will be from | assets revaluation reserve funds. The recommendations as to dividends and bonus issue are subject to any amended restrictions imposed by the .'Companies (Limitation of II Distributions) Regulations.