Allegra up 60%
Allegra Corporation increased its total profit 60.2 per cent to $1,629,000 in the six months to December 31, compared with the previous corresponding period. The directors said that all profits came from trading, and that the group was continuing to trade profitably in the second half. At the “magic million” sale in early January, Allegra Park Stud sold two Straight Strike yearlings for a total of sAustl9o,ooo (sale average, sAustso,ooo, 16% up on last year). The stud was also
ahead of the average at the Waikato sales, they said. The directors said they believed that the prospects for growth in the country’s thoroughbred industry were excellent. Turnover fell 24.3% to $6,115,000, but the pre-tax profit was ahead 7.9% to $1,629,000. No tax was payable ($492,0000 previously). An interim dividend of 2.5 c a share (5%) has been declared, payable on April 1. The annual rate last year was 4c a share.
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Press, 29 January 1988, Page 20
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154Allegra up 60% Press, 29 January 1988, Page 20
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