Auckland Gas in $1M club
PA Auckland Auckland Gas Company, ltd, has joined the SIM club in announcing a 37.9 per cent leap in unaudited group net profit to $1,013,000 for the year to March 31. The directors are recommending a 0.5 c lift in final dividend to 8c a share (8 per cent) which makes a total dividend for the year of 14c (14 per cent) compared with 13.5 c a share last year. The total dividend absorbs $305,585 ($211,120 last year) and the final dividend will be
tax-free, payable July 23, ex July 8. The company’s 37.9 per cent lift in net profit is after a tax provision of $804,000 ($580,019) and is subject to a final audit. Depreciation rose to $564,000 ($486,412) but deferred charges remained steady at $200,000. Natural gas sales soared more than SSM to SIB.IM and shareholders’ funds jumped more than S4M to $11.4M. This makes a net steady return on average shareholders’ funds of 11.1 per cent.
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Press, 14 May 1981, Page 18
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164Auckland Gas in $1M club Press, 14 May 1981, Page 18
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