Buoyancy for Morrison

Press, 30 August 1984, Page 26

Buoyancy for Morrison

Morrison-PIM (Holdings), Ltd, printing ink manufacturer and graphic arts supplier, yesterday announced a group tax-paid profit, subject to audit, of $2,092,000 for the 15 month period ended June 30. The group profit restated on an annual basis is $1,674,000, an increase of 27 per cent over last year’s profit of $1,317,000. Sales for the 15 month period were $23,847,000. When adjusted for 12 months this was $19,078,000, which was a 18 per cent rise over the previous 12 months including direct indent orders. The 15 month group profit figure allowed for taxation of SI.9M. The trend in the improved

trading results to December continued throughout the last six month period reflecting the buoyancy of the printing industry, MorrisonPIM said.

The directors declared a second interim dividend of 15 per cent (7.5 cents per share) on the capital in- • creased by the one-for-two bonus issue last April. With the first interim dividend of 20 per cent, this makes a distribution of 35 per cent for the 15 month period. The directors would not recommend any final dividend at the annual meeting on October 31, the company said. The interim dividend would be payable on October 5.