A. S. Paterson earned $1.6M

Press, 7 December 1978, Page 26

A. S. Paterson earned $1.6M

A. S. Paterson and ; Company. Ltd, earned an 1 unaudited equity profit of ,$1,553,312 in the six months ! to September 30. Extraordinary items [•.increased this profit by a j further $27,975, compared . with $l3O. ,1 The profit was earned on group sales of S3IM ,[($l4.4M) and is after tax provisions of $1,080,000 '(5432,000). : The figures include profits, ,i of the newly . acquired! subsidiary. Bonds (N.Z.) Ltd, I! from April 1, 1978. ; Food-processing results :have been steady, and

improvements in ' profitability have come from 1 diversification investments, land the benefits of major capital expenditure carried out in earlier years, the directors say. The board has declared an nterim dividend of 7c a share (last year 6 cents per share) tax-free in the hands rf shareholders. ‘Tn view of the trends in group profitability the] directors anticipate an. ncrease in the annual dividend rate to 17c a share, | igainst last year’s 15c al share,” the report says. Hooker NZPA Sydney Hooker Corporation. Ltd, was in a sound liquid position and the group would not be seeking shareholder’s funds before

1980, said the chairman (Mr J. K. Campbell) at an extraordinary meeting in Sydney to approve an in- ; crease in the group’s I authorised capital.