Lion interim up 19p.c.
PA Wellington Lion Corp has announced a 19.1 per cent increase in interim net profit to $22,472,000 ($18,874,000) for the six months to September 30. A dividend of 9cps (Bcps) win be paid on December 21. Sales were up at $511,833,000 ($422,087,000) and pre-tax profit was $33,725,000 ($33,627,000). Directors were confident that, barring unforeseen circumstances, the result for the year ending March 31, 1988 would be "satisfactory.” In comparison with last
year, the group’s beer brands and agency brands of wines, spirits and liquers continued to increase market share in spite of difficult trading conditions, the company’s chairman, Sir Gordon Tait, said. Lion’s 75% investment in the new south Auckland aluminium can plant was in excess of S3OM.
"Recyclable aluminium cans are produced from our plant more cheaply than steel cans and, as a result, the price of canned beer has been reduced.”
Hancock & Co had redeveloped a number of bars in its managed hotels over the
past six months. The upgrading would continue and Hancock and Co’s investment in upgrading in 1988 would top SIOM, Sir Gordon said. Rationalisation of Hancock and Co's property portfolio had started and it was intended to sell 40-50 hotels. Mac’s Liquor Pty was now the largest liquor retailer in Melbourne and, with its substantial presence in Sydney, was the second largest in Australia. Tax took $11,126,000 ($14,050,00) leaving a tax pajd profit of $22,599,000 ($19,577,000)/
Tax paid trading profit was $22,599,000 ($19,577,000) and profit from minorities was $34,000 ($737,000 loss). A loss Of $161,000 ($34,000 profit) from associate companies took trading profit to $22,472,000 ($18,874,000). Gains on realisation of assets Of $3,670,000 ($279,000) delivered a bottom line of $26,142,000 ($17,689,000). Goodwill of $14,549,000 from current year acquisitions was written-off against shareholders’s funds. The company paid net interest of $12,629,000 against $6,674,000 for the corresponding period last year.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19871203.2.132.2
Bibliographic details
Press, 3 December 1987, Page 31
Word Count
308Lion interim up 19p.c. Press, 3 December 1987, Page 31
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.
Log in