Trans-Ash. pays more

Press, 28 March 1980, Page 8

Trans-Ash. pays more

The directors of TransAshburton, Ltd. have raised the interim dividend rale from 2.5 c a share to 3.75 c a share (7.5 per cent), an act they said they were considi ering when the 1979 annual 'accounts were printed. I In a preliminary report, (the directors announced that ■the company earned an (unaudited net profit of {522,457 in the six months to December 31, compared with a loss of $18,584 previously, i It should be noted that the six months to December 31 was the “out of season’’ period for the group, the directors said. The profit of the group was always earned during the second six months of the financial year ; to .June 30. "As intimated in the 1979 ; annual report the directorshave given careful attention,;:

during this new cartage sea-? son, to the assessment of a' new dividend rate that can (safely be sustained in re-£ spect of the 1980 and future, tears. It is the opinion of* the directors that the pre< viotis annual dividend rate, of 5c a share can now b<safely increased to a new' rate of 7.5 c a share. Group turnover was 19’ per cent higher at $1.020,856.. ■ The profit was after pro-, viding $23,330 more for.; depreciation at $147,450, and’ $15,794 for minority inter--, ests compared with a loss of, $11,419 previously. Therewas a taxation credit of $71,763. $31,504 up on the same period last year. The dividend is pat-able on’ May 31, ex dividend on May: 21-' ?