Excellent result for W. Horton

Press, 9 May 1980, Page 14

Excellent result for W. Horton

Wilson and Horton, Ltd, the first newspaper group to announce a profit result for the March year, did not fail its supporters and reported an excellent result

The directors yesterday announced a group net profit of $4,597,229, subject to final audit, in the year ending March 31. This is better than last year’s profit of $2,761,711 by 66.5 per cent Total

sales for the group reached $49,643,746, an increase of 23.35 per cent on the previous year. Ml trading divisions of the company improved their contributions to the group result Advertising sales for the New Zealand Herald remained buoyant particularly in the final quarter of the year, the directors say in the brief preliminary report. The tax provision has

risen to $3,592,719 from the previous year’s $2,181,772. The directors recommend a final dividend of 12c a share, payable on July 16, ex dividend June 26. Total payout for the year therefore will be 20c a share on capital increased by the 1:5 bonus in August, compared with last year’s 18c a share; earnings cover the proposed dividend 3.5 times.