Baillie profit falls
Hawke’s Bay motor ■ vehicle dealer Baillie Farmers Motors Ltd, is increasing its dividend to 14 per cent, after a 14 per cent profit downturn in the vear to June 30, 1980.
The profit was $252,085. after tax of $210,533 and depreciation of $53,925, and the dividend is being increased from the previous eight months to June 30, 1979.
On an annual basis, the 1979 profit was equivalent to $292,081 — so the latest
profit is 13.6 per cent below this amount.
Sales for the year were $lB million compared with $10.7 million in the shortened 1979 financial year. In 1979 an 8 per cent dividend was paid for the eight months, making an annual rate of 12 per cent. A final dividend of 8 per cent will be paid tax free on October 13 making 14 per cent this year. The profit returns 23.3 per cent on ordinary capital which covers the dividend 1.7 times. i
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Press, 6 September 1980, Page 19
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158Baillie profit falls Press, 6 September 1980, Page 19
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