CSR boosts profit
NZPA-.AAP Sydney A cost cutting drive gave the sugar, mining and building materials group, CSR, Ltd, a 23 per cent boost in annual after tax earnings in 1983-84. However, the company’s directors said yesterday that the return on shareholders’ funds remained inadequate. CSR, ranked among the top 10 companies in Australia, reported a sAust9l.69 million net operating profit for the year to March 31, compared with $74.66 million the previous year. The profit result was
achieved on group sales totalling $2,044.29 million, up 5.6 per cent from last year’s $1,936.22 million.
The latest profit reversed a falling trend in profits during the last two years.
The directors recommended bolding the finai dividend at 9c a share payable on August 6 to make total dividend payments for the year 18c on earnings of 26c a share. Last year's total dividend was also 18c on earnings of 22.1 c. However, they said, the profit result was still inadequate as it represented a return of only 6.5 per cent on shareholders’ funds.
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Press, 14 June 1984, Page 28
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172CSR boosts profit Press, 14 June 1984, Page 28
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