div. raised again
The directors of Ernest Adams, Ltd, have recommended an increase in the final dividend for the second ye.'.r in a row. This time, the recommended dividend is 8c a share, increasing the annual rate from 10c to 12c a share (12 per cent). Group net profit rose 20.4 per cent, or $22,824, to $134,948 in the year to March 31. “Intensified selling efforts over a wider area, and the introduction of new products resulted in increased sales,” they say in the preliminary report. Pre-tax profit rose 12.7 per cent to $216,581, and the total profit was after providing $1531 more for tax at $81,633. The stock valuation allowance reduced tax payable by $9015. The profit represents an earning rate on capital of 33.7 per cent, compared with 28 per cent previously. The final dividend is payable on July 28, ex dividend on July 12.
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Press, 15 June 1978, Page 14
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147div. raised again Press, 15 June 1978, Page 14
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