Neil Holdings profit up
Neil Holdings, Ltd. the Auckland builder and property developer, has increased its unaudited group net profit 52.8 per cent to $1,032,000 in the six months to September 30. The directors said the improved profit, reflected the settlement of housing sales made towards the end of 1981 when trading was reasonably buoyant. Sales were now much lower and this would adversely affect the profit next year. Included in the previous
comparable period was a capital profit of $139,000. In spite of a good first half, the group's companies were now experiencing more difficult trading because of the downturn in the economy and the problems of the house building industry, the directors said. The profit was after providing $385,000 more for tax at $711,000. An unchanged interim dividend of 1.5 c a share (3 per cent) is payable tax-free on January 28. ex dividend on January 11.
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Press, 9 December 1982, Page 28
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149Neil Holdings profit up Press, 9 December 1982, Page 28
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