Kupe Pet. in profit
The directors of Kupe Petro- ui leum, NL, have announced an'*! audited after-tax operating profit of $1,229,000 for the first full year of operation ended . March 31, 1985. This compared with loss of"’ $2,498,000 for the previous "* seven-month operating period >1 to March 31, 1984. z The operating profit includes J an equity-accounted share of-, profits amounting to $321,000 i (tax paid) representing the 'J. post-acquisition 19.9 per cent ■ interest held in Ceramco, Ltd. In line with the directors’ H policy of amortising oil ex-.2 ploration licence costs over.i their useful life, extraordinary . write-offs of 12 months to March 31, 1985 are: $1,710,000 (1984, $1,592,000), resulting in an increase of $481,000 (1984,"’ $4,090,000) in accumulated '*■ losses carried forward. U No taxation has' been pro- 'h vided for the year, resulting in.J losses available to be carried , n forward to future accounting , periods of $1,654,000 (1984,'“ $2,484,000). The directors are not recommending the payment of a n divided. 5 "
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19850622.2.122
Bibliographic details
Press, 22 June 1985, Page 26
Word Count
162Kupe Pet. in profit Press, 22 June 1985, Page 26
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.