Record profit for Revertex
Revertex Industries N.Z. Ltd, unaudited net consolidated trading profit increased 49.3 per cent, to a record ‘5911,000, in the year to March 31. Total net earnings were $936,000 before the deduction of an extraordinary item of $25,000, being goodwill written off. The directors have recommended that final dividend be raised 2c to 10c a share (10 per cent) which makes a total of 19c compared with 16c in 1980. The final will be paid on July 31, ex July 16. The latest result was
reached after tax provision of $441,000 ($228,000 last year); and depreciation of $287,000 ($245,000). Group sales increased 33 per cent to $22.4 million. Paid capital increased to $1,771,036 after a one-for-three premium issue last year, and shareholders’ funds were up $1,477,000 to $5,277,000. The directors said improved earnings by the wholly-owned Australian subsidiary, and higher profits from export marketing by Titan Chemicals, Ltd were the major contributing factors to the latest result.
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Press, 27 May 1981, Page 29
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160Record profit for Revertex Press, 27 May 1981, Page 29
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