Beer profits boost C’maine result

Press, 9 October 1982, Page 22

Beer profits boost C’maine result

PA Sydney A strong performance by Castlemaine Tooheys. Ltd's beer operations was the main contribution to a 46.7 per cent profit increase to sAustss.3 million for the year to July 31. The directors said further market penetration was gained in both NSW and Queensland, and the company increased its share of the national beer market. Increased turnover and profit were again achieved

by the group's wine operations despite "difficult" trading conditions. “The tea and coffee division. however, did not fare so well in a highly competitive market." the directors said. Group profits, equivalent to 60.3 c a share, against 41.1 c a year ago. were achieved on a 19.1 per cent advance in turnover to just sAustBo3 million (including beer excise). The directors said that although some sales were lost in NSW because of in- ’ dustrial disputes, they were not so significant as in fiscal 1981. “There was an improvement in industrial relations in the final Quarter of the

year, with recent award negotiations being finalised with minimal disruption." they said. The directors said that considerable investment is being made in various area of operations to meet increasing demands for the company's products. Expenditure on capital works during the year totalled $48.8 million. A final dividend of 14c a share takes the annual payout to 27c, against 22c last time. The result remains after providing $45.3 million (previously $30.3 million) for taxation, and voting $12.2 million ($lO.B million) for depreciation.