'Penfolds (N.Z.) plans issue
Penfolds Wines (N.Z.) Ltd. intends to make a public issue of ordinary shares this year. The issue will provide finance for the company's continuing expansion programme, and also a sufficient spread of shareholding to qualify for stock exchange listing. In the six months to December 31, sales rose 75 per cent to $4.7M. and net profit rose 9.3 per cent to $595,468. No tax will be payable on this year's profits. An interim dividend of 8 per cent is intended to be paid tax-free, subject to the approval of the Supreme Court.
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Press, 29 March 1980, Page 18
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96'Penfolds (N.Z.) plans issue Press, 29 March 1980, Page 18
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