Prog. Ent. up 32%
PA Auckland Progressive Enterprises the listed take-over target of Magnum Corp, has lifted tax-paid profit 32 per cent in the naif year to September 37 to $11,354,000 ($8,608,000 previous year). Sales were 20 per cent ahead at $437,413,000 ($364,332,000). The profit after tax includes benefits from the net investment Income arising during the half year. Provision for tax was $310,000 ($5,596,000). Interest paid was $11,864,000 ($3,552,000). The directors have not made an interim dividend recommendation. They say the takeover bid by Magnum contains some restrictive conditions relating to interim dividend. An announcement Is expected within two weeks, at the same time as a recommendation on the bld Itself. The offer, made on November 6, is two Magnum 50c ordinary shares plus 300 c in cash for three 50c ordinary shares in Progressive.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19871123.2.84
Bibliographic details
Press, 23 November 1987, Page 13
Word Count
136Prog. Ent. up 32% Press, 23 November 1987, Page 13
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.