Skellerup holds
The directors of Skellerup Industries. Ltd. announced yesterday that the unaudited pre-tax profit for the Skellerup Group of Companies for the half-year ended September 30 was $3,862,000 ($3386.000), Tax paid profit was $2,481,000 ($2,119,000), an increase of 17 per cent
These figures do not include the equity share of income in associated companies but include dividends from associated companies of $165,950 ($24,500). Sales for the period were $67,000,000 ($61,000,000). The directors approached the Fees and Distributions
Appeal Authority with a view to obtaining their approval to the payment of the interim dividend in February next year. This approval was necessary as a result of “The Companies (Limitation of Distribution) Regulations, 1982” imposed in the 1982 Budget, The directors regret to have to advise that this
approval was not forthcoming from the Authority. The company intends to issue a prospectus late in November asking the public to subscribe to an issue of debenture stock in the amount of $5,000,000. Details of the proposed Issue will be published shortly.
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Press, 18 November 1982, Page 27
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169Skellerup holds Press, 18 November 1982, Page 27
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