T. J .Edmonds’ growth continued
The group net profit of T. J. Edmonds, Ltd, rose 20.9 per cent to $639,234 in the year to March 31, the directors say in a preliminary report. However, the result is subject to the auditors’ qualification that the company has not adopted the “straight-line” method of depreciation.
Equity accounting has not been applied, but the group’s share of associate companies results, some of which are subject to audit, rose 6.3 per cent to $126,965. The annual dividend rate is maintained at 17.5 c a share on increased capital, with a final dividend of 12.5 c a share (12.5 per cent) payable on August 30. The profit was after providing $9310 less for tax at $12,850, and $604 less for depreciation at $308,355.
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Press, 15 July 1978, Page 16
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128T. J .Edmonds’ growth continued Press, 15 July 1978, Page 16
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