Strong growth by Protector
NZPA Sydney] Protector Safety Industries, Ltd, increased net profit 46 per cent to $1,315,000 in the year to June 30. Profit in the first half year was 50 per cent higher to $427,000 and there was a 44 per cent increase to >BBB,OOO in the second halfyear.
A one-for-four scrip issue will be made, and the directors expected to maintain the latest dividend rate on the increased capital. The final payout of 4c a share is in line with the interim, taking the annual dividend to 8c a share, compared with 6.875 c in 1977. It
will require $318,000, compared with $274,000 previously.
The profit rise was mainly because of improved profitability of the overseas subsidiaries, especially in the United Kingdom. Renewed expansion of export activity in the Middle East, and Latin America, and aggressive marketing in Australia also helped earnings.
The profit was after a 14
per cent rise in sales to $17.5M. Extraordinary gains totalled $329,000, compared with $133,000 previously.
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Press, 18 August 1978, Page 7
Word Count
166Strong growth by Protector Press, 18 August 1978, Page 7
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