Scott Group does well
■■■..- '.?v ’'. 5 .-J The group net profit of Scott Group, Ltd, the diversified Wellington-based timber and hardware supplies group, rose 42.5 per cent to '5721,905 in the year to June 130, according to the directors in a preliminary report.: An increase in the annual dividend rate from 6.25 c to 7c a share (14 per cent) will be achieved, if shareholders accept the directors’ recommendation of a final, dividend of 5c a share.
It would appear that Scott
Group did not do so well in the second-half, after announcing a 58.7 per cent profit increase to $301,000 in the six months to December 31. The pre-tax profit rose 51.6 per cent to $1,150,145, and the tax provision was $127,120 higher at $428,240. The annual dividend rate absorbs $232,687 and is covered 3.1 times by the profit The final dividend is payable on October 17, ex dividend on September 29.
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Press, 4 September 1980, Page 18
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153Scott Group does well Press, 4 September 1980, Page 18
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