CMI profit steady
An improved second-half enabled Consolidated Metal Industries, Ltd, the Auck-land-based manufacturing engineer, to increase its unaudited group net profit a marginal 1.4 per cent to $1,616,000 in the year to March 31, the directors announced in a preliminary report.
In a prospectus printed earlier in the year for a specified preference share issue, the directors said that the latest profit was not expected ' to match the $1,592,906 earned in 1980.
However, the predicted 10c a share (20 per cent) annual dividend rate has been achieved (subject to shareholders’ approval) after the directors recommended a final dividend of 5.25 c a share.
The annual dividend rate is 1.5 c better than previously. The tax provision fell $4OOO to $1,186,000.
The final dividend is payable on July 29, ex dividend on July 16.
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Press, 28 May 1981, Page 18
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134CMI profit steady Press, 28 May 1981, Page 18
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