Peko plans another bonus issue

Press, 23 February 1978, Page 22

Peko plans another bonus issue

NZPA Sydney i Peko-Wallsend, Ltd, will make its second scrip issue I in 16 months after a 66.9 per i cent rise to sAustlo.lM in i net trading profit for the ] half-year to December 31. ] Shares from a one-for-five i scrip issue, based on hold- i ings at March 23, will rank : for the steady interim dividend of 7.5 c a share, payable on April 14. Peko held its 15c a share I annual rate, established in|: 1970-71. after the previous : scrip issue on a one-for-four basis in November, 1976. 1 Gross income for the latest : half-year increased 36.4 per 1 cent to 582.3 M after the 1 ;: value of mine products sold[ increased 31.9 per cent ton $49.5M. and sales by the in-H

dustrial and trading division rose 43.9 per cent to $32.8M. The company does not break its sales down into different metals, but it gives details of average prices, and production. However, the report says that sales-volumes of copper, bismuth, and mineral sands were significantly lower. The latest profit was after providing $76,000 more fbr income tax of $1,650,000, and $119,000 more for redemption and depreciation of: : $4,060,000. Exploration costs rose i $637,000 to $2.2M and a! minority shareholder’s in-! terest was $157,000 against! [a loss of $92,000. [ The scrip issue will increase ■ ordinary capital i$3.OM to about SIBM.