Jedi profit drops to $700,000
PA Wellington Jedi Corporation, Ltd, made a profit of just $693,000 for the year ended March 31, down from $4,036,000 the year before. But directors said they expected tax-paid profit
for the current year would be not less than $4 million. They said trading operations reflected in the past year’s profit were all disposed of before Trinity Insurance Company, Ltd, acquired a majority shareholding in Jedi and
announced its new shape. Turnover was $28.9 million ($33.1 million). Tax took $674,000 (credit of $482,000) and there was a net operating loss of $640,000 (profit of $3,399,000). Associates added $1,333,000 ($637,000) to
give the final profit. Final dividend will be 1.2 c a share to be paid on August 26. Jedi’s annual meeting will be held in Wellington on August 26 when shareholders will be asked to rename the company London Pacific, Ltd.
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Press, 22 July 1986, Page 38
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146Jedi profit drops to $700,000 Press, 22 July 1986, Page 38
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