J. Edmond ahead

Press, 20 November 1981, Page 8

J. Edmond ahead

Unaudited net profit after tax for the six months to September 30 attributable to the shareholders of John Edmond Holdings, Ltd, is $529,000 (last year adjusted $401,000), an increase of 31.9 per cent. Net sales were $15.6M (last year $10.3M) an increase of 51.4 per cent. Provision for tax at the standard rate of 45 per cent is $433,000 (1980 adjusted $328,000). This year’s figures include returns from J. B. Ferguson and Company, Ltd, for six months, John Edmond Timber, Ltd, (50 per centowned) for 5 months, and John Edmond Proprietary, Ltd (90 per cent-owned) for 4 months. None of these subsidiary companies was included in group returns during the same period in 1980.

The directors believe that there is some evidence of a revival of confidence in the building trades in various areas serviced by the company: indeed considerable buoyancy was experienced by a number of branches. Although two subsidiaries incurred establishment losses they are budgeted to become profitable after an initial trading period. A tax-free interim dividend of 8c a share — 8 per cent (last year 7c a share) will be paid on December 8. The increase in interim dividend is not necessarily an indication that the total annual rate will be increased, but is for the purpose of equating interim and final payments. The dividend will be paid on capital increased by the 1 for 8 cash issue in May of this year.