C.P.D. profit rose to $6.4M

Press, 13 June 1979, Page 23

C.P.D. profit rose to $6.4M

Cable Price Downer, Ltd,; 1 increased unaudited total; ;group, net profit, for the] ‘year to March 31, 17.5 peri I cent to 56.4 M, compared! with $5.5M in 1978, and 56.6 M in 1977. I The latest result was after: total group turnover in- ! creased 3 per cent to I 5191.4 M. It represents a return of 14.0 per cent (1978, i 13.9 per cent, 1977, 18.6 per I cent) on ordinary sharel holders’ funds ■ The directors will recom-

jmend lo the annual meeting ion August 30, an increased ■i final ordinary dividend of 9 I per cent, making the total II ordinary dividend for the llyear 16 per cent (16c a I share) compared with 14 per -I cent for the previous two .years. The proposed ordinary . dividend is covered 2.7 times by the profit. 1 Included in the profit of . $6.4M is a capital profit of $216,000 (nil previously)! . from the sale of in-| - vestments, and property. I The group’s net trading profit rose 14.0 per cent to $6.2M. The profit was after providing SI.IM more for tax at $3.3M. Minority interests were

given as nil, compared with ! a loss of $9OOO in the pre-' vious year. The figures included re-j suits of associated com-! panies only to the extent of I dividends received. Total reserves of the! group amount to $33.5M. s Total shareholders’ funds in-i creased S4.IM to 551.3 M. The recommended dividend, together with amounts already paid during the year, including preference dividends, will absorb a total of $2.6M, and, with the balance brought forward from last year, will leave a total of unappropriated earnings of $23.3M. Payment of the final ordinary dividend will be made on August 30.