Andas expects profit after half-year loss

Press, 15 April 1980, Page 36

Andas expects profit after half-year loss

Andas Group, Ltd, suffered a loss (unaudited) Of $144,357 in the half-year to December 31, the directors report. The costs inecurred in the reorganising of the group’s photocopy machine subsidiary continued. This was '■ cause of the reduced profit for the year to June, 1979. ;

Results in the other , majof subsidiaries were satisfactory, considering that these traditionally yield the greater part of their annual profit in the second half the trading year, the directors say. Sales were at satisfactory and the directors were confident that the full year’s trading will return the company to profit. Because .of this the directors have declared an unchanged interim dividend of 5.5 per cent on ordinary

shares. The dividend will be paid from capital profits, and will therefore be tax free in shareholders’ hands. It should not be inferred, however, that the final ordinary dividend will necessarily be maintained at last year’s level, the.directors say. The share register will be closed from 5 p.m. on Friday, May 2, to 5 p.m. on Wednesday, May 14, and the dividends will be paid on Thursday, May 15,-1980.