W.Sutherland rate steady
W. Sutherlmd and Co, Ltd, Auckland tartier, has maintained an iiterim dividend of 5c (5 percent) despite a 42 per cent fall to $93,558 in unaudited net profit for the September SO half-year. The profit, was after charging $15,433 more for depreclatlon/at $113,830, and once again no provision for taxation .was required. Net profit forihe same period last year wai $161,528. The iaterim dividend will again be paid tax-free from capital reserves on January 16. ex January 5. The said that trading’ continued to be difficult with the industry experiencing a world-wide downturn in demand. Much of this was due to the "extremely f high” hide prices of last year. . The chairman (Mr H. V. Brackstone) saidthat demand in both the domestic market
ill UULU for finished leather and the ■ export market for semiprocessed; leather remained Indications were that trading for /the balance of the year" wotild be at a lower level thin the previous year. ■ •
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Press, 29 December 1980, Page 21
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159W.Sutherland rate steady Press, 29 December 1980, Page 21
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