C.T.P. ahead
The unaudited trading profit before tax of Canterbury Timber Produets, Ltd, rose 24.7 per cent to $1,949,729 in the six months ended September 30, the directors say.
The profit, which includes' extraordinary income from the sale of technical expertise of $207,000 (last year nil), was after providing $4586 more for depreciation at $732,178. Another 5'50.000 was written off pre-commis-_ stoning costs, and a provision has been made of $609,749 for deferred taxation (nil last year) leaving an after-tax profit of $1,339,982 — 14.3 per cent less than in the corresponding period last year.
Sales increased 30 per cent to SB.7M, including exports of S2.BM —an increase of 62 per c “The ; continuing strong demand for customwood both locally’ and overseas would indicate that the next six months should reflect a similar sales performance to that achieved in the first 6 months,” the directors say.
They' have declared an interim dividend of 10c a share Gast year 8c) payable on December 9.
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Press, 25 November 1980, Page 28
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162C.T.P. ahead Press, 25 November 1980, Page 28
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