W. Jeffery recovers

Press, 24 September 1980, Page 23

W. Jeffery recovers

I An increase in the final • dividend is in store for the shareholders of Williamson Jeffery, Ltd, the Christ-1 church-based manufacturing stationer and paper mer-j chant, after the unaudited) group net profit rose 34.4: j per cent to $742,950 in the; year to June 30. ) A recommended final divi-i dend of 10c a share in-i creases the annual rate' (from 12.5 c to 14c a share; (14 per cent) according to) the directors in a prelimi-i nary report. The improvement in’ the] profit in the half-year to De-1 cember 31 was maintained; for the full year, but in thei

11 opinion of the directors the 1 >1 latest result still represented: 11 an inadequate return on: •I shareholders* funds. i ;i “Group turnover increased ■ j $4.2 million, or 22.9 per) l]cent, to a new peak of) ;$22.6M. and this, together) :>with greater efficiency ini j the company’s factories, coii-j itributed to the higher earn-) lings.” However, the improvement, jin profit was partially offset: iby a further significant in-; ,crease in expenses, arid this) (continued to cause concern.) (they said. ; i Williamson Jeffery report-!, led an increase of 34,6 per! icent to $359,536 in the unau-ll

■ dited group net profit, exh eluding equity profits, in the i! half-year to December 31. t The result represents a re--1 turn on average shareholders’ funds of 10.4 per ’lcent (8.7 per cent prejviouslv), and includes I $17,637 ($30,911) as the (equity share of profits from Jan associate company. The profit was after providing $113,806 more for tax at $377,931, but $37,941 less (for depreciation at $209,175. {The 10c a share final dividend, half of which is taxifree, is payable on November 3, ex dividend on October 22