Quill shows gain

Press, 31 August 1984, Page 8

Quill shows gain

Quill Humphreys, Ltd, the Christchurch-based wine and spirits merchant, earned a group net profit of $779,765 after deducting minority interests, in the 15 months to June 30, com-

pared to $412,937 in the previous 12 months to March 31.

The directors said yesterday that a direct comparison between the two periods

could not be made, but there had been a real improvement in the company’s performance. Case sales of all major brands sold by the company increased markedly during the period, reflecting the benefits of the restructuring which was started early in 1984, they said. The company recently

bought four liquor outlets in the North Island and a video tape hire business in Christchurch, but because these were acquired late in the financial period, they made no significant contribution to profits. Group sales totalled $35.5M ($29.6M in the previous year). The pre-tax profit was $1,306,654 ($646,134 in the previous 12 months), and the tax provision totalled $618,404 ($262,690). Capital profits from the sale of assets amounted to $113,006 ($29,645).

A recommended final taxfree dividend of 7c a share, is an increase of 2.5 c a share on last year because of the extension of the financial period to 15 months. The dividend gives a rate of 10c a share (8.5 c in the previous year). The ex dividend date is October 15.