Broadway changes balance date

Press, 26 January 1988, Page 23

Broadway changes balance date

The Christchurch-based investment company, Broadway Industries (formerly Brother Distributors) plans to change its balance date from March 31 to June 30.

During the last year, Broadway Industries, Ltd, has undergone significant restructuring which has included the purchase of two substantial assets H. E. Perry, and the South Island Dairy Association and directors say that, as a consequence, it is considered appropriate to alter the balance date of the enlarged group. Earlier, the Stock Exchange approved an extension of Broadway’s in-terim-report period to the end of February. The managing director, Mr John bjichol, said this meant Broadway had received exemption from compliance with the listing requirement which required the submission of the half-yearly report within four months of balance date. ‘‘This will enable the company to report results for the nine months ended December 31 and thus provide a clearer picture of trading by the enlarged company.”