Record sales and profits for PDL Holdings

Press, 14 July 1982, Page 35

Record sales and profits for PDL Holdings

PDL Holdings Ltd. the Christchurch-based electrical equipment and plastics manufacturer, once again reported record sales and profits yesterday.

The chairman (Sir Robertson Stewart) announced that sales increased 50.4 per cent to $37.7 million, and tax-paid profit 43.4 per cent to $3,956,297. Included in the sales were exports of $6,512,770 as against $4,048,311 last year, an increase of 59.5 per cent. The. pre-tax profit rose from $2,753,100 by 80.3 per cent to $4,964,282.' which includes the share of the associate company's (PDL-Wylex Sdn Bhd) contribution. Because of the increased

local sales, taxation rose from $480,286 to $1,261,847. Extraordinary items including the capital gain on the sale of shares to Gerard Industries Pty, Ltd, Adelaide in PDL-Wylex Sdn Bhd totalled $253,862 bringing the consolidated profit after tax to $3,956,. 297—an increase of 43.4 per cent on $2,758,802 last year. Sir'Robertson said.

The directors are recommending a final dividend of 15 per cent (7.5 per cent a share) making 27Vz per cent for the year. One fifth (1.5 c a share) of the final dividend will be paid out of capital reserves and subject to Inland Revenue Department approval will be tax-free in

shareholders' hands. In conformity with the recently announced freeze on increased dividends, the directors are recommending that the final dividend of 15 per cent (if approved at the Annual Meeting) be paid on August 18 with a recommended interim dividend payable in January 1983, of a maximum of 10 per cent. These two dividends if approved by the shareholders, will comply with the present regulations. The annual general meeting will be held on Wednesday August 18. and the Share Registry will be close from 5.00 p.m. on Wednesday. August 11. and will reopen on Thursday August 19.