Allflex doubles interim profit

Press, 18 November 1981, Page 26

Allflex doubles interim profit

The unaudited group net profit of Allflex Holdings, Ltd, almost doubled in the six months ended September 30 compared with the same period , last year, the chairman (Mr W. C. McPhail) announced yesterday. “Net group profits, including the results from our associated company, were $1,419,000 compared with $721,000 for the same period last year, and total sales exceeded budget by more than 38 per cent and were up 68 per cent for the period,” Mr McPhail said. Sales for the company totalled $6,978,000 ($4,161,000)

and the net group tax-paid profit was $1,294,000 ($603,000) with an additional $125,000 ' ($118,000) coming from the associated company. : Earning rate on sales for the company for the period was 20.3 per cent (17.3) and net earnings a 50c share were 20.3 c (10.3). Current assets to current liabilities were 1.54:1 (1.40:1), and the net asset backing a 50c share stood at 82c (56c). “Exports continue to provide 90 per cent of the sales volume of the company,” Mr McPhail said. ' ■ “Although competition re-

mains strong, we believe that results for the balance of the financial year will be in line with past performance, producing a full year’s result substantially ahead of last year. An interim dividend of 6c a share, compared with 4.25 c last year, will be paid on January 28, with the share register closing at 5 p.m. on January 13 and reopening on January 18 for the purpose of determining dividend entitlement. “This dividend will be paid from the tax-free source of the share premium account where appropriate,” Mr McPhail said.