MPI has lift to $1.3M
PA Wellington Morrison-PIM, Ltd, has reported a 6.4 per cent increase in group net profit to $1,308,000 on a 4.5 per cent increase in turnover for the six months to December 31. The combination of freer imports, fluctuating currencies and high interest rates has created an even more demanding
environment for companies committed to manufacturing and trading in capital equipment and consumables, the chairman, Mr T. N. Beyer, said. The interim result represents an earning rate on average shareholders’ funds of 19 per cent. The interim dividend of 7.5 c a share is an increase
of 20 per cent over the previous period. The company’s shares are currently trading at a price earnings ratio of just over 4:1. The directors believe that this price does not accurately reflect the strength of the company’s balance sheet, nor their confidence, based on performance, in its future.
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Press, 14 March 1987, Page 24
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149MPI has lift to $1.3M Press, 14 March 1987, Page 24
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