Diversification benefits to N.Z. Farm. Fert.

Press, 18 July 1977, Page 20

Diversification benefits to N.Z. Farm. Fert.

New Zealand Farmers Fertiliser Company Ltd’s unaudited net profit jumped $667,413 — or 23.6 per cent — to $3,490,941 in the year i ended May 31, the directors report. This reflects an earnings rate of 13.9 per cent on tbta jshareholders’ funds including ; the specified preference share capital they say. ; Taxation on current in I come has been provided at 152,128,008 compared witl ($2,282,181 last year. There was a tax saving ol

•-$414,680 from investments - allowances largely applicable d to the new Morrinsville sultjphuric acid plant which was r part of a development plan s approved by the Inland Revenue Department in 1974. ;s Pre-tax profits increased tl $153,240 or 10.1 per cent g over last year. e Group output at 823.845 )tonnes was marginally ahead t-jof last vear. Group turnover it was $62,507,679 compared h w-ith $56,695,603 last year. ' Of the tax paid profits, a »f i significant amount, $741,000.

si came from diversified inter»,ests. The result was struck s after providing $107,316 in r technical aid to Chrome and - Chemicals (NZ) Ltd which was treated as an expense 4 against that company's mf itial trading. 5 The directors recommend j. payment of a final dividend r)of 7c per share, making a d total dividend for the full a'year of 12c per share, payi, table on September 16.