Henry Berry profit jumps 65 p.c.

Press, 20 November 1981, Page 8

Henry Berry profit jumps 65 p.c.

Henry Berry. Ltd, earned a group tax-paid profit of $814,932 (unaudited) for the six months ended September 30. This figure, which takes into account the trading of associate companies compared with $492,937 for the comparable period last year and represents a gain of 65 per cent for the six months, the directors say. The provision for income

tax of $649,368 compares with $399,184 last. year. Group turnover was $27,997,000, an increase of $7,368,801, or 35 per cent. Although the profit and turnover of Hylin Holdings, Ltd, acquired on April 1, is included and has contributed to this improvement the directors are pleased to report that the parent company and subsidiaries showed improved results. “This is' particularly gratifying in the light of competitive pressures in trading which are being experienced throughout New Zealand,” they say. “Shareholders funds increased from $9,081,038 at March 31 to $12,718,148. (This does not include the recent cash issue, the shares not being alloted till October).

The Professional Uniform Company, Wellington, and the Stephens and Trading Company, Hawke’s Bay, were acquired after balance date and are not included in these results. An interim dividend of 6.25 c (12.5 per cent) (last year 5.75 c interim, 6.75 c final) will be paid on January 31 (with registers closing from January 11-15). The directors advise that steps are being taken to obtain the various concenses needed to enable the payment of tax-free dividends from the share premium accounts. . Should these be received in time, half of the above dividend will be paid from this account to shareholders who so elect.