Bisley’s increases profit 90 p.c.

Press, 30 November 1982, Page 24

Bisley’s increases profit 90 p.c.

PA Hamilton A. M. Bisley and Company, Ltd, raised its tax-paid profit 90.5 per cent in the year to June 30. Tax-paid profit was $2,096,000, a record. In the year to June 1981 it was $1,101,000. Sales increased 37 per cent from $14,399,661 to $19,731,170. If a directors’ recommendation is 'accepted at the company’s annual meeting in December, the shareholders will receive a record dividend of 26 per cent for the June year. An interim dividend of 10 per cent has already been paid, and the final dividend of 16 per cent is due on December 10. This will cost the company $883.470,. leaving a retained net profit of $1,212,886. Combined with the unappropri-

ated profit from previous years this leaves nearly S6%M for future investment. The directors’ policy of financing growth by expanding equity capital in preference to high interest borrowing had proved a success, said the chairman, Mr David Bisley, in the annual report. The Greenline range of agricultural equipment, introduced for the 1981-82 harvesting season, had been an outstanding success. Increased sales were expected for the 1982-83 season, he said.

While many companies producing industrial and agricultural machinery hgd been affected by the .world recession Bisley’s- had achieved a larger slice of a smaller market,'said Mr Bisley. A 39 per cent decline in

export sales was a result of the world recession, he said. The company’s further “low gearing” would allow it to expand even further in the present year within the existing capital structure. The company was also in a position to support sales with hire-purchase finance, he Said.

Bisley’s has offices in Hamilton, Palmerston North, Christchurch, Ashburton, and Timaru.

Its activities include importing, manufacturing, distributing, and exporting a wide range of products including agricultural and horticultural machinery, and irrigation equipment. It has interests in forestry, well drilling, spare parts and service, and the manufacture of stock foods.