A.M. Bisley profit down

Press, 31 October 1979, Page 24

A.M. Bisley profit down

The unaudited group net profit of A. M. Bisley and Company, Ltd, the Hamiltonbased agricultural equipment supplier, fell 44.1 per cent to $465,219 in the year to June 30. the directors say in a preliminary report. However, in spite of the fall in profits the new financial year looks more encouraging for the company. "In contrast to the weak first six months experienced during each of the last two years, sales for the first three months of the new financial year are up 108 per cent on the corresponding period last year,” they said. The figures for the last three months did not include export deliveries to Thai-

land, which commenced this; month. The shipment of the latest Thai contract, valued’ at SS.BM. would be com-! pleted within two years. In the latest year, gross] profit was up 30 per cent to] $3.2M, earned on sales 1.2 j per cent higher at $9.7M. Because of export in-1 centives and forestry in-j vestments no tax was payable. A deferred tax adjust j nient gave total profit of’ $477,713 ($836,426 previously). A recommended steady an-; nual tax-free dividend of; 12.5 c a share (25 per cent): is payable on December 10. ex dividend on November 21.