Quill H. profit

Press, 25 November 1982, Page 24

Quill H. profit

Quill Humphreys, Ltd, has announced an unaudited tax paid profit for the six months to September 30 of $216,902 ($216,615 for the corresponding period last year) after providing for taxation of $168,260 ($168,025). The half-yearly result was adversely affected by merger related expenses of $71,136. The result for the current period was affected by other non-recurring expenses totalling $73,675. Marketing of liquor has become very competitive and this is expected to con-

tinue into 1983, say the directors. Budgeted sales and profit targets could be difficult to achieve. The Inland Revenue Department has confirmed that substantial capital profits are available for tax-free distribution to shareholders. This will enable the company to pay tax-free dividends for a number of years. The directors have announced a tax-free interim dividend of 3c (6 per cent) a share, compared with 3.5 c (7 per cent) last year. The dividend will be paid on December 21.