Wilson Horton

Press, 26 October 1984, Page 10

Wilson Horton

Wilson and Horton, Ltd, publisher of the “New Zealand Herald,” report a profit of $4.5 million (tax paid) for the six months ending September 28. This is an increase of 76 per cent on the same period for the previous year, and has been achieved on higher sales of $5O million, a rise of 22.9 per cent In addition the New Zealand Press Association has made a distribution from Reuters sources, the directors say. The extraordinary income attributable to the company was $1.5 million, which brings the total earnings for the period to $6 million ($2.6 million). Tax provision was $3.4 million ($2 million).

All printing and publishing divisions performed satisfactorily during the

period. "The New Zealand Herald” traded strongly during the time when newsprint prices have risen sharply and adjustments have been required for the cover price and advertising rates.

Commercial printing divisions increased their sales and completed their relocation of plant and personnel. The greeting card publisher, Stanley Newcomb and Company, Ltd, gained in profit and market share. Two interim dividends have been paid in August and September totalling 24c per share, 23c of which have been tax-free. The next dividend payment will come after the publication of the annual results, next year in July.