Golden Bay profit falls
PA ' Wellington Golden Bay Cement Company, Ltd, has reported a 7 per cent fall in after-tax profit to $3,751,000 ($4,035,000 for the corresponding period last year) for the six months ended June 30. Revenue was $41,240,000 ($35,842,000) and pre-tax profit $5,982,000 ($4,035,000). Tax took $2,231,000 (nil). The company also reported depreciation at $2,191,000 ($2,026,000) and interest at $1,882,000 ($1,907,000). The chairman, Mr Douglas Fraser, said that although domestic sales were slightly lower in the first half of the year, revenue and profits were influenced by price increases approved and implemented under price control. The directors proposed to maintain the half-year dividend at 2.5 c a share, or 5 per cent.
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Press, 11 September 1986, Page 22
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114Golden Bay profit falls Press, 11 September 1986, Page 22
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