A. J. White held back
A. J. White, Ltd, has reported an unaudited group net profit for the year to June 30 of $122,147, a decrease of 25 per cent on the record profit of $163,827 achieved in the previous year. A. J. White made a record profit, after a sales increase fo 23 per cent, but losses were sustained in subsidiary companies which has reduced the over-all result. In addition, the Trading Stock Valuation Adjustment was no loger available for taxation purposes, and tax provision rose to $55,166 from $50,628. Considerable non-recurring relocation expenses were incurred during the last six months in one subsidiary company, and results since balance-date have justified the move, the directors say. They are confident that in the coming year the subsidiary companies will make a reasonable contribution, to the group’s profit. A final dividend of 6 per cent (6c a share) is recommended, which maintains the annual dividend rate at 111 per cent (11.5 c a share). The dividend will be paid on October 30. .spJ CYB-
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Press, 17 August 1979, Page 8
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173A. J. White held back Press, 17 August 1979, Page 8
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