LeyGro has good results

Press, 12 November 1985, Page 26

LeyGro has good results

PA Auckland Leyland Growth, Ltd, has posted a $2,194,316 audited taxpaid profit for the year ended September 30, more than doubling the profit of $1,050,000 projected in the company's 1984 prospectus. Directors declared a one-for-five bonus issue and are recommending a final dividend on ordinary shares of 5c a share (10 per cent) to be paid on December 16. The company chairman, Mr

John Strevens, said the directors were delighted with the result, which was achieved in a changing climate as the investment industry adapted to the economic policies of the Labour Government.

The manager, NZI Investment Services, had been able to capitalise on the opportunities available for. Leyland Growth.

Pre-tax earnings were $2,138,231 (compared with $260,478 for the three months to September 30, 1984). This

included all realised gains and 80 per cent of net unrealised gains, less 100 per cent of unrealised exchange losses, on the trading portfolio. Tax, including deferred tax, was $764,090 ($85,667).

A profit of $820,175 ($75,703) on the long-term portfolio was added to the tax-paid trading profit bringing the bottom line to $2,194,316 ($250,514). The profit on the long-term portfolio included $31,935 of realised gains and 80 per cent of unrealised gains.