Leyland’s first half good

Press, 3 May 1984, Page 22

Leyland’s first half good

The unaudited result of Leyland Investments, Ltd, for the half year was compared to $83,095 for the same period last year—an increase of 7.5 per cent (last year 11.7 per cent) before the addition of net gains on sale of investments.

The provision for taxation - is estimated at $8454 (last year $7712). During the period net gains on sale of investments totalled $300,447 (last year $50,210). The shares sold included the company’s holdings in Wattie Industries, Ltd, Mount Cook Group, Ltd, and part of the holding of New Zealand Forest Products, Ltd.

Asset backing at Septem-

ber 30 was $2.88, and in December the company made a successful one-for-five share issue at 180 c a share. Asset backing a share on the increased capital of 1,674,640 shares at March 31 was $3.21. The market fell more than 10 per cent in March, but now appears to have steadied at the lower level.

The directors have declared an unchanged interim dividend, payable on may 31 from realized capital profits, of 6c a share (12 per cent) on the capital issued at September 30. The new shares issued in December are not entitled to the interim dividend, as notified in the prospectus.