Cory-Wright result up
The group net profit of Cory-Wright and Salmon, Ltd, rose 30 per cent to $414,743 in the year to March 31, the directors say in a preliminary report. For the first time, equity accounting has been used to include in the group result its share of the profits of an associate company, amounting to $80,815 ($32,860 previously). Group sales rose 19 per cent to $4.5M, while expenses increased 19.3 per cent to $3.6M.
The profit was after providing $21,635 more for tax at $320,044 and $71,146 more for minority interests at $263,606.
An unchanged annual dividend rate of 10 per cent (10c a share) is recommended, payable on October 11.
Daily volume
A total of 189,400 shares was traded on New Zealand stock exchanges yesterday, 55,300 fewer than on Friday. Industrial shares totalled 184,400 (242,100 on Friday), and 5000 mining and oil shares were traded (2600 on Friday). A total of 99 issues was traded. U.E.817,700 Print. Pack 13,600 Wilkins D 8,000 N.Z. Forest 7,100 Feltex 6,600 Lamson dividend up Lamson Industries,Ltd, is raising its interim ordinary dividend for the first time in four years after a 15 per cent growth in net earnings in the opening half of 1977. The dividend is up 1c to sc.— NZPA.
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Bibliographic details
Press, 2 August 1977, Page 20
Word Count
211Cory-Wright result up Press, 2 August 1977, Page 20
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