N.Z. News profit 51 p.c. higher
PA Auckland N.Z. News made an unaudited tax-paid profit of $2,012,503 for the first six months to September 30, the directors announced yesterday. This was a 50.9 per cent rise of $679,064 compared with the same period last year, and represents a return on average shareholders’ funds of 14.75 per cent (last year 10.38 per cent). Sales rose 22.7 per cent to $38,303,780. Depreciation was $1,024,410 compared with $989,453 last year, and tax
was $1,398,691 (last year $818,553). The directors have declared an interim dividend of 10c a share (last year 8c), to be paid on December 10 to shareholders registered at November 25. The directors reported improved business in most operations resulting from increased efficiency after extensive re-equipping with new technology over recent years. The second half of the year has begun on a strong note for all group operations, they said.
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Press, 14 November 1981, Page 19
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149N.Z. News profit 51 p.c. higher Press, 14 November 1981, Page 19
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