Good year for A. Barnett
Arthur Barnett Ltd, Dunedin retailer, increased sales 17.6 per cent to $15.1M and pre-tax trading profit 22.9 per cent to $1,229,100 in the year to June 30. Tax payable is $566,300 (1978 $396,300), leaving a tax paid profit of 10.3 per cent higher at $662,800. In addition, a capital pro-
■ fit of $101,200 (last year nil) ; was realised, making total . profits for the year of 1 $764,000 (1978 $603,800), an 1 increase of $160,000 or 26.5 ! per cent. The provision for taxation I was reduced $63,100 in the i previous year by the Stock ■ Valuation Adjustment allowance, which applied for that year only.
I The directors are recomI mending to shareholders a ’ final dividend of 9 per cent, i making a total of 16 per > cent (16c a share) for the year, and an increase of 2c a i share. : The dividends for the lat- : est year are covered 3.6 times by net trading profits. The directors have allocated, for staff profit-partici-
■ pation, 7J per cent of the i trading profit, amounting to , $49,700 (1978 $45,200). Total expenses rose 11.4 per : cent during the year ini eluding a 15.1 per cent increase in wages, the report • says. > Dividend warrants for final dividend will be posted ■ on October 3, the date of the annual meeting.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19790822.2.145
Bibliographic details
Press, 22 August 1979, Page 19
Word Count
219Good year for A. Barnett Press, 22 August 1979, Page 19
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.