A. and B. profit doubled
Andrews and Beaven, Ltd, almost doubled its profit in the latest financial year. The directors yesterday announced an audited group tax-paid trading profit for the year ended June 30 of $2,015,778 (1979: $1,027,181) an increase of $988,597, or 96.2 per cent, on the previous year’s result. This is after taxation provision of $1,293,448 (1979: $748,413). Group sales were $64,660,543 an increase of $8,665,048 or 15.47 per cent.
The directors recommend a final dividend of 8 per cent (1979, 7 per cent) payable from tax-free reserves. This raises the total dividend to 14 per cent for the year — compared with 12 per cent last year — which is covered 2.03 times.
The dividend is payable on November 12, ex dividend October 23. The directors are pleased to record this return to a more satisfactory profit level similar to earnings on ordinary, shares and shareholders’ funds achieved in 1977. Sales for the first two months of the new financial year are above the 1979 comparative period, they say.
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Press, 25 September 1980, Page 22
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170A. and B. profit doubled Press, 25 September 1980, Page 22
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