Man. Radio improves its profit
PA Wellington Manawatu Radio, Ltd, has reported a trading profit of $161,041 for the year to March 31, up 46 per cent from last year. The directors are recommending a final dividend of 10 per cent, giving a total dividend of 17.5 per cent (14 per cent). No provision was made for tax because of losses carried forward from previous years. The company declared an interim dividend of 7.5 per cent last December and the directors have asked for shareholders’ approval to meet this from the share premium account, tax-free. The directors said Manawatu Radio continued to improve its leading share of audience, and recently applied to convert its operation to FM. Since balance date the company has subscribed 5 per cent of the capital in the company which has applied to serve Region Three as part of the TV 3 network. A private investor recently bought 22 per cent of the company’s issued capital.
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Press, 22 June 1985, Page 21
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160Man. Radio improves its profit Press, 22 June 1985, Page 21
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