Neil Holdings
The directors of Neil Holdings, Ltd, announce an audited net profit for the year ended March 31, of $1,466,866 (1982, $1,763,133) — a decrease of 16.8 per cent. This figure includes nil profits from the sale of fixed assets (1982, $124,544) and is after provisions of $879,175 for tax (1982, $959,801) and minority interest Of $486 (1982, $429). Group sales were $65,303,290 (1982, $54,573,745) and included inter-company trading of $11,324,155 (1982, $8,680,565).
The directors will recommend payment of a final dividend of 4 per cent (2c a share) making a total dividend for the year of 7 per cent (3.5 c a share). The dividend will be paid from realised capital profits and will be tax-free.
The directors say that the result reflects the continued depressed conditions of the building industry and the downturn in the New Zealand economy. All divisions are trading profitably for the first quarter.
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Press, 19 July 1983, Page 22
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149Neil Holdings Press, 19 July 1983, Page 22
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