“The Press” profit 42 p.c. up

Press, 15 October 1982, Page 10

“The Press” profit 42 p.c. up

The profit after tax of the Christchurch Press Company. Ltd, rose 42.4 per cent to $598,514 in the six months ended September 30, the directors announced yesterday. It was after providing $33,862 more for depreciation at $223,567, and $180,580 more for tax at $493,116. Profit before tax rose 48.9 per cent to $1,091,630 from sales 18.7 per cent higher at $lO.l million. Earnings for the six months were arrived at after writing off an additional $33,862 in depreciation, and the full effects of servicing the loans raised for the financing of the new press, the directors said. “It should be noted that the 1981 comparative result was somewhat depressed by

the costs incurred in the installation of photo-typeset-ting. "Advertising volume has continued to grow at a steady rate in spite of a reduction in employment advertising, and circulation has maintained the strength achieved during the 1981-82 financial year. “D. N. Adams, Ltd, continues to trade profitably, although its results have been reduced by the effects of the price freeze.” An interim dividend of 2.5 c a 50c share (5 per cent) will be payable on November 10. It is proposed to pay this dividend from the share premium account. The share register will close at 5 p.m. on October 29, and re-open at 9 a.m. on November 1.

Mr John van der Burgh, of Wellington, who has been appointed marketing director of the Chemists’ Guild of New Zealand, which represents 1130 retail pharmacies. He was formerly divisional manager, advertising and marketing research, for Philips Electrical Industries, N.Z., Ltd, and will take over the position from Mr Clive Ashman, who will become manager of member services and assistant executive director.