Humes’ 17th increase
Humes has achieved its seventeenth successive profit increase with an unaudited consolidated operating profit of sAust33.6 million after tax for the year ended June 30. This result is up 7.4 per cent on the previous year and was recorded on turnover ot $746 million,
Earnings per share after adjusting for issues was 21.6 c, up 4.9 per cent. The profit increase was achieved notwithstanding a much heavier interest charge of $22.7 million (previous year $12.2 million). Cash flow from trading exceeded $6O million, according to company secretary, Mr L. R. Tutton. The 1986 profit result was released at this time so that shareholders were fully informed with respect to the take-over offer from Unity APA, Ltd.
In separate correspondence to shareholders, the directors have rejected totally this offer.
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Press, 26 August 1986, Page 22
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131Humes’ 17th increase Press, 26 August 1986, Page 22
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