A. J. White expects recovery from fall

Press, 1 April 1980, Page 21

A. J. White expects recovery from fall

A. J. White, Limited, reports record sales for the group for the six months’ December 31 with an increase of 20 per cent being achieved by the parent company. The unaudited net profit for the six months, however, declined to $30,004 compared with $62,921 for the comparable six month period last year, a decrease of 52 per cent. The taxation provision for the six months was $10,842 compared with $40,806 last year. Although the parent com-

! pany achieved a record taxipaid profit, this was eroded iby losses incurred in some I subsidiaries. I Trading continues to be i difficult in the North Island, but it is expected that the year-end result will reflect the measures being taken. With the anticipated improvement in net profit in the second half-year the directors have declared an interim dividend of 5J per cent (5.5 c a share) which maintains the dividend at the same rate as previously. The dividend will be paid on April, 30. .