Allflex meets targets

Press, 6 June 1981, Page 18

Allflex meets targets

Allflex Holdings. Ltd. achieved its sales targets during the 1980-81 financial year in spite of earlier concern by the directors, the chairman (Mr W. C. McPhail) said yesterday. Consolidated sales by the company increased 11 per cent over last year to $9,566,000. Sales were made to new market areas, including South America, Scandinavia. and Greece, and the acceptance of the Allflex product in the “harder" sales areas is encouraging, he said. “In our half year report we advised shareholders that sales had been less buoyant than budgeted as a result of climatic and economic conditions in various parts of the world. We can now report that a strong upsurge in

demand in the latter months of the financial year saw us reach our sales target," Mr McPhail said.

“Consolidated net profit before extraordinary items for the year under review of $1;752,000 represents an increase of three per cent on the previous year,” Mr McPhail said. “The consolidated net profit, after allowance for extraordinaryitems of $267,000' was $1,485,000 ($11540 million)." ■ The directors have recommended an increased final dividend payable from the tax-free source, of share premium account of 4.75 c a 50c share whjeh. together with-.the interim dividend of 4.25 c will make a total of 9c for. the year (18 per cent).