Ebbett profit falls 31 p.c.
[ The net profit of Ebbett [Waikato Group, Ltd, fell 31.3 per cent to $153,334 in [the year to July 31. [ “Viewed on a more realis- [ tic basis after adding back ‘non-recurring’ expenses j lassociated with the merger! of the two trading com-; panies, the group’s profit I was $172,733, representing a! drop of 22.6 per cent over last year. “This result, despite an increased turnover, of more: than S2M, is cause for con-' Isiderable concern, and re-' [ fleets the. ever-increasing i trading expenses, which ’have been absorbed,” say [the directors. “The expected reduction in [ overheads, resulting from ithe merger of the two comI panies, has been largely off’set in this financial year by establishment costs, most of which are non-recurring, but, it is clear that this major change will be of great value to the company in the years ahead," they say. The final dividend of 4.5 c [ a share is payable from the share premium reserve mak- ’ ing it tax-free to! shareholders. Ex dividend i November 18.
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Press, 12 November 1977, Page 19
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173Ebbett profit falls 31 p.c. Press, 12 November 1977, Page 19
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