Ajax McPherson’s ahead
PA Wellington A nuts and bolts maker, Ajax McPherson’s, Ltd, has lifted interim profit by 5.7 per cent to $1,643,000 (last year $1,554,000) for the six months ended December 31. Sales were $20.98M ($18.27M). Tax took $1,060,000 ($807,000) and, in part, the tax increase was because of the phasing out of export incentives. The interim dividend will be 6c a share, to be paid on April 2. Books close on March 19.
The profit does not include any result from the company’s two recent Australian acquisitions.
The Australian fastener and pressings businesses of McPherson’s were purchased on December 31 for about sAust4lM. Development and rationalisation plans for these operations were proceeding on schedule.
Ajax said demand for its products was still holding well although there were economic forecasts for continued weakness in
the New Zealand economy. Demand in Australia was steady and profits from the two Australian acquisitions would be accounted in the consolidated results from January 1.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19860218.2.135.3
Bibliographic details
Press, 18 February 1986, Page 30
Word Count
161Ajax McPherson’s ahead Press, 18 February 1986, Page 30
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.