James HardieImpey has fine results
PA . .. Auckland James Hardie-Impey, Ltd,: (formerly Phillipps and Impey, Ltd) earned a 39.7 per cent higher net trading profit of $1,840,000 in the latest year to August 31. The higher result does not include any contribution from the subsidiaries . of
James Hardie Industries which were brought into the enlarged group on September 1.
The directors say that they consider the result “most satisfactory,” and the full costs associated withI’4 1 ’ 4 the: merger have been provided for. - .
The result was achieved on external sales 10.9 per cent higher at $26,768,000 and was
after providing for tax $420,000 greater at $1,442,000. Further to the trading result were extraordinary .expenses of $12,800, being the amount of stamp duty paid *in the acquisition of the Hardie operations. In 1980 there were , extrarodinary profits of $49,000. '• '
The contribution from associate companies was almost doubled at $211,000 compared with $lOB,OOO pre-
viously. A final dividend of 11 per cent has been recommended for payment on December 15. This is in line with the forecasts made to share-
holders at the time of the merger. Shares issued in consideration for the Hardie operations do not participate in the dividend.
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Press, 2 November 1981, Page 16
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198James Hardie- Impey has fine results Press, 2 November 1981, Page 16
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