Blandford profit
The listed bloodstock company, Blandford Lodge, Ltd, announced a maiden net profit of $1,121,000 for the 15 months ended June 30, but no dividend was recommended. Turnover was 3,467,000. Because there were no extraordinary items and no requirement to make a provision for tax, the trading profit of 1,121,000 was the final profit. Income projections meant a dividend would probably be paid this year, the chair-
man, Sir James Fletcher, said.
The directors said in the prospectus that the company’s earnings in its first year of operation would be best reinvested in bloodstock, he said. By its nature the bloodstock industry involved medium-term rather than short-term returns.
Gross income for the first 15 months included $2,056,992 from the sale of bloodstock and $560,880 from stud service fees and agistment.
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Press, 30 September 1986, Page 22
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131Blandford profit Press, 30 September 1986, Page 22
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