Unilever Aust. profit up
NZPA Sydney The group net profit of Unilever Australia Holdings, Proprietary, Ltd, rose 16.8 per cent to $Au5t6,397,000 in the year to December 31. The dividend paid to the parent company, Unilever, Ltd, was $2,250,000. Higher sales volume in ice cream and convenience food activities offset the adverse effect of severe price competition in the margarine and packaging industries, the directors say. The chairman (Mr M. N. Little) said that despite the improved result, the over-all return on shareholders’ funds was still not satisfactory. “However, increased efficiency and a lower rate of inflation have meant that there has been no further erosion of real earnings.” With consumption in most Australian consumer markets static or growing very slowly, future profitable development of the business continues to depend on cost reduction and rationalisation of existing activities, he said.
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Press, 14 May 1979, Page 12
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140Unilever Aust. profit up Press, 14 May 1979, Page 12
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