TNL ahead 26 p.c.

Press, 29 August 1980, Page 8

TNL ahead 26 p.c.

TNL Group, Ltd, earned a, record unaudited total group i net profit of $4,004,000 in! the year to June 30, an increase of 26.2 per cent on tire previous year. 1 Announcing the result in a preliminary report, the 1 directors have recommended ■ a final dividend of 5.5 c a! share, which raises the an- : nual rate from 8.25 c to 9c a'l share (18 per cent) all of|l which is tax-free. Included in last year’s dividend rate!' v.as a special dividend of i 1.25 c a share to celebrate I

• the centenary of Newmans (Coachlines. j Included in the final result lare realised capital profits of $954,000, compared with none previously. If this is deducted from the total profit, the group net profit is down 3.9 per cent to $3,050,000. i Also included in the total profit are equity profits of '5616,000, compared with ($289,000 previously. The profit was afer providing $703,000 less for tax a< $123,000. I The return on average!

shareholders’ funds rose from 10.7 per cent to 12.9 per cent, and the net asset backing a 50c share improved from 117 c to 120 c. Shareholders’ funds totalled $31.3 million, of which the issued ordinary capital comprised $11.6M, and the preference share capital $3.5M. The final dividend is payable on December 10, ex dividend on November 3. The annual dividend is covered 1.7 times by the total profit.