Alex Harvey profit 7.5 p.c. lower

Press, 14 November 1978, Page 27

Alex Harvey profit 7.5 p.c. lower

| PA Auckland I The group net profit of (Alex Harvey Industries, Ltd, (fell 7.5 per cent in the six (months to September 30, compared with the previous (corresponding half-year. j The directors say that (there was now some evidence of a slight rise in demand for products, other than building materials, and if this trend continued, the results for the second half of this year could be expected to improve. The profit, after tax and minority interests, for the first half of the current year $6,517,000 — a decrease of $529,000. It was after tax of $1,701,000, down $1,862,000 on that for the same period last year mainly the result of a further strong growth in export sales. Export sales of $13.9M were up 24 per cent on those in the same period of last year. Exports in the full 1977-78 ' year were more than S23M. I With greater emphasis being ; directed towards the new ex- ’ port markets sucessfully penetrated last year, this ; rate was expected to show further improvement for the!

full current year, the direc-1 tors say. The interim dividend of 7| per cent (7c a share) is to be 1c a share higher than the 1977-78 interim, but the directors say the increase has been made with a view I of levelling-out the halfyearly payments. The interim payment, requiring $2,279,882, wiil be made on December 1, shares’ becoming ex dividend on No-( vember 21. Last year, the company paid a total of 14 per cent after the 1977 one-for-two | bonus issue. I