Recovery by John Burns
PA ' Auckland John Burns and Company, Ltd, has announced a 51.4 per cent higher unaudited trading profit of $680,000 for, the six months to December 31. The interim dividend is unchanged at seven per cent. The result excludes an equity profit of $29,000. No tax was payable, as was the. case in the same period in 1980. Sales for the half year were down 67 per cent at $ll million. But the directors say the previous period included turnover relating to provisions no longer within the group.
The final costs of reconstruction will exceed the balance remaining in the special provision for this purpose, but the directors say this will ■be more than offset by capital profits realised in this year. The dividend will be taxfree in shareholders' hands and payable on April 30. In the last full year to June 30. 1981. John Burns and Company earned a
$458,551 lower profit ot $345,923 but held total dividend at the 15 per cent forecast when the three-for-four bonus issue was made in 1980.
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Press, 5 March 1982, Page 10
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177Recovery by John Burns Press, 5 March 1982, Page 10
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