SCM profit up again

Press, 26 July 1984, Page 26

SCM profit up again

Smiths City Market, Ltd, unaudited net profit for the year ended April 30, at $3,139,400, was 18.7 per cent up on the 1982-83: year ($2,644,547), which in turn was up 74.9 per cent on the previous year.

The 1983-84 profit includes extraordinary items of $129,383 (1982-83) $139,674.). Tax provided for is $1,325,277. (No tax was payable in the 1982-83 year.) Turnover for the group was up 51 per cent at $72,267,660, ($47,773,610). Both profit and turnover figures include 12 months trading by Noel Leeming Television, Ltd, in which a majority shareholding was acquired in May, 1983. The directors recommend. © A final dividend of B%c on each ordinary share (the same as in 1982-83) making an. annual dividend of 15c on

each ordinary share (the same as in 1982-83). © A bonus issue of one ordinary share for every six shares held. ® A renounceable cash issue of one share for every six shares held at a premium of $1.75 per share. Specified preference shareholders are entitled to participate in both the bonus issue and cash issue. However, the bonus shares do not vest with the specified preference shareholders until the redemption date of October 31, 1987. Application moneys for the renounceable cash issue of ordinary shares will be payable on November 15, 1984, and the new shares from both cash and bonus issues will rank for the 198+85 interim dividend. The annual meeting of the company will be held on September 19.