IWD profit jumps

Press, 17 February 1984, Page 9

IWD profit jumps

Ivon Watkins Dow, Ltd. made an after-tax profit of $4,428,000 for the year to December 31, up 39 per cent on the previous year. Shareholders will be asked to approve a tax-free final dividend of 10 cents (last year 9.25 cents) at the annual meeting of the company in New Plymouth on April 17. The profit was made on net sales of $47,495,000, up from $43,185,000 in the year before. Extraordinary income was $4,428,000, compared with $5,578,000 before. The IWD directors said the dividend would be payable from realised capital profits and was within the limit set by current regulations restricting dividends. The dividend will be paid on April 18. When added to the interim dividend of 7.5 per cent a share paid in September, the final dividend would make a total of 7.5 cents for the year, 11 per cent up on the 15.75 cents paid in 1982. The directors said that fav-

ourable seasonal conditions and record sales in the final quarter of 1983 produced a second half profit of $3,379,000 which eclipsed all previous half year results excluding extraordinary items.