Wellington Gas profit rises
The group net profit of the Wellington Gas Company, Ltd, rose 11.4 per cent to $450,458 in the year to December 31, the directors say in a preliminary report. Group turnover increased 32.7 per cent to $5,392,871, but the directors say that a valid comparison of the turnover figures for 1976 and 1977 cannot bo made because of the cost increases in the price of natural gas. The profit was after providing $250,464 more for tax at $275,131. A recommended final taxfree dividend of 7c a share makes a steady 12c a share (12 per cent) for the year, on capital increased by the one-for-five bonus. The dividend is payable on March 22.
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Press, 22 February 1978, Page 22
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117Wellington Gas profit rises Press, 22 February 1978, Page 22
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