S.F.M. issue
The Southland Frozen Meat Company, Ltd, plans a one-for-four cash issue of 100 c shares at a premium of 50c per share. The directors also report that unaudited net profit for the year to October 1 was $3,116,763, against $3,341,505 last year. The result includes equity accounted profits of $452,850 ($280,596 last year). Parent and subsidiary companies’ proportion of the result is $2.7M ($3.2M) after depreciation of $2.2M (SI.9M). This result includes tax credits from prior years of $500,936 and the payment of back pay relating to earlier general wage orders of $543,528. Tax amounts to $1,231,541, compared with SI.7M last year. The final dividend of 10c a share (2.5 c tax-free) makes a steady 15 per cent for the year, payable March 21, the lay after the annual meet.ng.
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Bibliographic details
Press, 28 December 1978, Page 16
Word Count
132S.F.M. issue Press, 28 December 1978, Page 16
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Acknowledgements
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