Adsteam behind
NZPA-AAP Adelaide The effects of the October sharemarket crash and lower associated company earnings led to an 8.9 per cent fall in the net profit of Adelaide Steamship Company (Adsteam). The diversified industrial and investment group reported a profit of 5NZ74.4 million in the six months ended December 31. The fall in profit would have been closer to 15 per cent if sAust4.3M from the sale of long-term investments — usually treated as extraordinary items — was included in the trading result. An unchanged interim dividend of 18c a share (36 per cent) was declared.
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Bibliographic details
Press, 11 March 1988, Page 14
Word Count
95Adsteam behind Press, 11 March 1988, Page 14
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