Rapid rise by Radio Windy

Press, 28 November 1979, Page 25

Rapid rise by Radio Windy

Capital City Radio, Ltd, re- ■ ports that for the 12 months to October 31, unaudited pretax profit was $250,358, com-1 . pared with $20,396 in the pre- j vious 12 months. After! deduction of accumulated tax credits, the net profit is, about $191,500. Net sales rose 38.3 per cent: to $980,000. The “Radio! Windy” station is experienc-1 ing buoyant business, and current profitability is ahead I I of budget. On May 31 the company; announced the half-year re-1 | suits, and also advised that the annual balance-date i ■would be changed to March: 31.

I This report is a further interm announcement, because Jthe full financial period will !be 17 months to March 31,; 1980. ! A second interim dividend l I of 10 percent (5c a share) will be paid on January 25. Pro-, vided Supreme Court approval is given time, the dividend will be payable, if I preferred, from the share premium reserve account. Mr M. H. Harding has rei signed as a director, after I valuable service since the I company’s inception. Mr Rob McKay, the station manager, has been appointed managing director of the company.