Viko has record year

Press, 17 August 1985, Page 25

Viko has record year

PA Wellington The photofinising firm of Viko Holdings, Ltd, has announced a 14.1 per cent interim profit increase to $719,000 ($630,000) for the six months to June 30. There were no extraordinaries (last year $94,000 loss, decreasing the total profit to $536,000). The company said it had record sales and profits in all divisions. Turnover was $7,811,000 ($6,820,000). Tax took $588,000 ($516,000).

The interim dividend will be 3.5 c a share tax-free (3c). Viko said it seemed assured of its ability to recommend a final dividend of 6.5 c, together with a bonus issue.

The chairman, Mr P. J. Vucich, said trading had been strong in all divisions. After prolonged but mutually satisfactory negotiations, Viko purchased Torocolour, Ltd. The consideration involved the issue of 243,243 ordinary shares at $1.85. These shares will not rank for the

forthcoming interim dividend, but will be eligible for all subsequent dividends as well as bonus issues.

Mr Vucich said he expected to achieve a net profit after tax in the current year of $1,500,000 compared with $1,084,714 in 1984 (after allowing for extraordinary items). If the Government proceeded with the abolition of sales tax coincident with the introduction of GST, the effect was likely to be favourable for sales and profits.