Successful result for Abcal

Press, 9 October 1982, Page 23

Successful result for Abcal

Associated British Cables. Ltd. has reported a 36 per cent increase in sales for the half year to June 30. and said that profits had risen by a similar percentage to 51.507.547. This compared with $1,104,655 in the same period last year. The unaudited result was after provisions for taxation of $997,000 ($655,000) and for depreciation of $241,000 ($278,000). The directors said in a statement that it was a most successful trading result.

“The period, unaffected by wages and prices freeze regulations, or budget provisions. has been one of significant increases in production and sales, assisted by relatively stable and favourable prices for metals and other major materials," they said. The directors have declared a steady interim dividend of 12Vz per cent (12.5 c a share) on the capital increased by the 1:2 bonus issue. It is payable on October 28. “The effect of the Limitation of Distributions Regula-

tions is to constrain the company to a total rate of 28 ! 2 per cent for the sum of this interim and the next final dividend, normally paid in April/May. In the event that the regulations are still in place at that time the final dividend may not exceed 16 per cent." the directors’ statement said.

“Since June, sales volume has continued at high levels and the success rate of company quotations for major projects sees the factories with very strong order books for the balance of 1982 and ahead into 1983."