First City rise
PA Wellington First City Corp, Ltd, has increased net profit 59 per cent from $706,000 to $1,123,000 for the year ended March 31. A final dividend of 5c a share (last year 4.5 c a share) making a total of 10c a share (7.5 c will be paid on July 6. Revenue was $13,872,000 ($7,378,000), profit before tax $1,638,000 ($1,016,000), and deferred tax took $515,000 ($310,000). The earnings rate is
21.14 c a share (14.11 c on average issued capital and 18.48 per cent (13.28 per cent) on average shareholders’ funds. Total assets increased from $34.6 million to $68.6 million, and the issued capital at March 31, 1987 was $5,627,238 in 100 c ordinary shares. The result includes three months profit from Telecheck Payment Systems, Ltd, acquired at the end of December, the chairman, Mr D. W. Johnson, said in a statement yesterday.
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Press, 7 May 1987, Page 42
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146First City rise Press, 7 May 1987, Page 42
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