Humes profit falls 41 p.c.
Humes Industries (NZ), Ltd, had a 41.5 per cent drop in group net profit for the year to June 30 to $3,375,000 from $5,778,000 in the previous year. The company said yesterday the result was anticipated and considered satisfactory. The previous year’s profit had been “very exceptional,” and projections for the 1984-85 year were for a steady result, it said. The latest profit is before operational rationalisation costs (net of tax) of $61,000.
It was arrived at after depreciation of $1,820,457 (1983 $1,825,933) and of tax $2,942,167 ($4,758,621). Hume’s group profit from trading before tax was $6,100,000 ($10,513,000) and income from investments was $217,000 ($24,000). A final dividend of 9 per cent (4.5 cents) on ordinary shares is to be recommended to shareholders at the annual meeting, on September 28 — payable that day to shareholders registered in the register of members at 4 p.m. on Thursday, September 13, 1984. An interim dividend of 11 per cent (11 cents) was paid on March 31 based on ordinary share capital before a bonus issue and share split (50c) at April 4.
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Press, 23 August 1984, Page 24
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184Humes profit falls 41 p.c. Press, 23 August 1984, Page 24
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