F.T.C. bonus after good half-year
PA Auckland The Farmers Trading Co, Ltd is recommending a one-for-fiva bonus issue after unaudited net profit increased 45.95 per cent to $1,561,783 in the six months to September 30. The tax provision was $385,703 higher at $1,280,330. Because of the proportion of time payment sales, the increased provision for deferred profits was $2,206,407. compared with an increase of $1,216,301 last year, the directors say. Sales were 12.1 per cent
higher at $62.1 M, and this increase along with a minimal increase in expenses is given by the directors as the reason for the profit rise. The bonus issue will rank for the final dividend for the year to March 31. An unchanged interim dividend of 2.5 c a share (5 per cent) is payable tax free from the share premium account on January 23. The company’s trading has further improved, the directors say, and unless there is an unexpected downturn in the economy, they expect a satisfactory lesult for the full year.
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Press, 5 December 1978, Page 23
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168F.T.C. bonus after good half-year Press, 5 December 1978, Page 23
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