Lane’s up on assets
PA Wellington Lane’s Industries, Ltd, which has sold its trading assets and operations, has reported investment assets of $4,757,000 at the interim balance on December 31.
The company reported to the Stock Exchange a profit of $200,000' for the six months ended December 31 (last year $70,000), less extraordinaries of $51,000 (nil), making a total profit of $149,000 ($70,000). No tax was payable. There will be an interim dividend of 3c a share, to be paid on March 31. Books close on March 14.
Trading assets and operations were sold in October to Alliance Textiles and Lane’s trading at Levin ended on October 18. Lane’s said the second half of the year would realise improved earnings on which no tax would be paid because of previous tax losses.
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Press, 26 February 1986, Page 33
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132Lane’s up on assets Press, 26 February 1986, Page 33
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