TNL profit $2M
TNL Group, Ltd,'’ earned a net profit of nearly $2 million in the six months to December 31..
The profit was $ 1.963,000.1 compared with $1,255,000, for the saipe period in 1978. > The latest figure includes $837,635 capital profits from the sale of the Redwoods Valley Pastoral Farm, and investmerits, arid includes the estimated share,of profits of associated companies, and three months profit of subsidiary Webbs ’ Motors (WharigaTei) Ltd. • All trading divisions were profitable — apart from horticulture, because properties are still being developed. These development] costs will continue to affect] group profits until optimum|
(production is reached, the directors say. The mineral division’s research and development programme has been increased 100 per cent in the last year.
An unchanged interim dividend of 3.5 c a share (seven per cent) is payable on June 10.
This dividend will be paid from realised capital profits and will be free of tax to shareholders. ’
A meeting of. shareholders will be . held on March 25 .to consider changes to. the articles of the company, and to release $l.B million from (the share premium, account for distribution in lieu of dividends. 1
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Bibliographic details
Press, 27 February 1980, Page 26
Word Count
189TNL profit $2M Press, 27 February 1980, Page 26
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