W, Davies gains 60

Press, 2 December 1985, Page 40

W, Davies gains 60

PA Auckland Wilkins and Davies Construction Co. Ltd, has reported a 60.5 per cent higher unaudited tax-paid trading profit of $2,252,000 for the September 30 half-year. The profit was after tax of $1,883,000 ($1,131,000 in 1984) and includes minority interests of $42,000 ($7000). There was a loss of $91,000 as the share of associated company activity. There was no such item in the 1984 half-year. Turnover was $73,530,000, an increase of $14,869,000 or 25.3 per cent on the $58,661,000 turnover in the 1984 period. An interim dividend of 6c a

share (12 per cent), double that paid in the September, 1984 half-year, will be paid on November 25, ex November 18. The chairman, Mr L. H. Southwick, says an improved result is expected for the full year. He says turnover was influenced by the substantial progress made on the Marsden Point refinery expansion. The company’s workload is at a satisfacctory level through a wide range of contracting activities in New Zealand and South-East Asia. He says the company’s marina division is operating effectively. Westpark Marina

has been opened, work has started on Gulf Harbour Marina and negotiations are under way for six further marinas in New Zealand and Australia.

Commercial building turnover continued at a high level, as did earthworks. Sales in quarry products were at record levels.

Mr Southwick says civil engineering contracts are scarce. As a result of its purchase of Key Engineering, Ltd, turnover and workload in maintenance and mechanical engineering projects associated with the forestry industry are expanding _______________