Cory-Wright div. raised
The directors of CoryWright and Salmon. Ltd. the Wellington-based engineers, are again increasing the interim dividend after a slightly improved result in the six months to September 30. The unaudited group' net profit rose a marginal 1 per cent, or $4884. to $516,240, and the interim dividend has been raised from 6c to 7c a share (7 per cent). The satisfactory result had been reached after making much larger provision for taxes, the directors said. In spite of rising costs and the difficulties and uncertainties in some areas of the market.
the directors said they were confident of maintaining the present level of profitability. All the company’s trading and manufacturing divisions made worth while contributions to the total earnings, and Tyree Power Construction, Ltd, had an excellent order book, they said. The profit was achieved after providing $123,924 more for tax at $265,957, and undisclosed minority interests. The equity net profits in an associate company fell 67.6 per cent to $13,294. The dividend is payable on February 26, ex dividend on February 10.
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Press, 25 November 1981, Page 27
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176Cory-Wright div. raised Press, 25 November 1981, Page 27
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