Ballins bonus, higher div.

Press, 17 November 1981, Page 24

Ballins bonus, higher div.

Ballins Industries, Ltd. yesterday announced a one-for-ten bonus issue and tfn increased interim dividend after earning a higher profit in the six months ended September 30 than in the whole of the previous year. The directors reported an unaudited tax-paid profit for the six months of $3,735,000 (last year $854,000). This comprises profit from group trading, inclusive of the results of associated companies. of $1,209,000 ($782,000) and profit from non-trading extraordinary items of $2,526,000 ($72,000). Last year the profit from non-trading net realised capital profits was $406,000.

The provision. for income tax is $763,000 ($135,000). The results demonstrate the first effects of significant restructuring, together with a strong trading performance, the directors said. “The move to market nationally the group's wine and spirit interests under the Liquorland umbrella has produced significant increases in sales levels.” they said.

“The addition of 8 outlets acquired from Dalgety New Zealand. Ltd. as from November 30 enables the company to establish a truly national chain which can efficiently provide high levels of . service and facilities and still meet, or better) the competitive pricing situation now widespread throughout the country. •

“The directors are also pleased to report that all other areas of the group's

activities, including hotels and taverns, fast food, soft drinks and fruit juices, have produced profits in excess ol both last year and budget. “The management associations with Lion Breweries. Ltd. in hotels and taverns, CC Bottlers. Ltd. of AdelaideAustralia. in soft drinks, and L. D. Nathan and Company. Ltd. in wine and spirit wholesaling. are proving most beneficial through increased specialisation. “As previously announced, the extraordinary profits arise from the sale of shares in LiOn Breweries. Ltd. and Fletcher Humphreys and Company. Ltd. and the disposal of assets within the company's hotels and taverns .now leased to the joint-ven-ture company. Inns of Canterbury. Ltd. An interim tax-free distribution of 8 per cent (4c a share) on ordinary share capital has been declared in respect of the period to September 30.. Last year’s interim dividend was 6.5 per cent, of which only 3.5 per cent was tax-free.

The share register .will close at 5 p.m. on December 11 and reopen at 9 a.m. on December 14 for calculation of the distribution, which will be paid on January 8.

The directors are recommending a one-for-ten bonus issue of ordinary shares. Such shares will not qualify for the interim distribution, but will rank for tfie final dividend payable for the year ending March 31. In addition. an appropriate

amount will be set aside from reserves to provide for the issue of ordinary bonus

shares to the holders of convertible specified preference shares when these convert to ordinary shares.

The meeting required to authorise this bonus issue is planned to be held in February. and further details will be sent to shareholders at a later date. “Given the continuation of the satisfactory trading performance, the directors expect that the total dividend for the year ending March 31 will exceed the 16.5 per cent paid for the 1981 year." the directors said.