Clypex back in black
Clypex Resources, Ltd, formerly Clyde Group, Ltd, returned to the black in the six months to February 1, earning an unaudited group net profit of $96,000, compared with a losiTof $786,000 in the previous corresponding period. The restructured heavy equipment group showed a trading profit of $229,000, compared with a loss of $709,000 in 1983 and $225,000 in 1982. Gradually improving market conditions should see the continuance of improved results, the directors said. “The result which reflected the impact of the restructuring and redeployment of funds, although encouraging, still respresents an inadequate return on capital employed.” No interim dividend was proposed, but the directors said they would be reviewing the dividend policy when a more certain profit pattern emerged. Turnover fell 3.5 per cent to $11,536,000 and no tax was payable (previously $77,000).
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Press, 10 March 1984, Page 24
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137Clypex back in black Press, 10 March 1984, Page 24
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