Brewing lifts Bond result

Press, 24 August 1988, Page 39

Brewing lifts Bond result

NZPA-AAP Perth Bond Corp Holdings said its Australian brewing operations underpinned a 255 per cent lift in net equity accounted profit to a record $Au5t355.65 inillion ($NZ455.23 million) for the June 30 year. Bond Corp said improved revenue and profits from Bond Brewing Australia, combined with a part-year contribution from G. Heileman Brewing Inc. of the U.S., lifted the brewing division’s total contribution before tax and interest to sAust2B7.22 million compared with sAust2ol.96

million for 1986-87. Property contributed sAustl4l.7l million ($21.21 million previously) and the corporate division sAustl 75.25 million ($50.01 million), Bond Corp told the Perth Stock Exchange.

Contributions from all divisions, apart from coal which fell marginally, showed significant improvement, it said.

Directors have declared a final unfranked dividend of 8c for ordinary shares, making a total dividend of 14c, compared with 10c previously. The brewing division contributed sAust3.2l billion compared with $1.68

billion previously, helping lift Bond Corp’s operating revenue to a record $5 billion from $2.49 billion. The next biggest contributor was the corporate division with $BB5 million as against $521.64 million. Bond Corp sajd government imposts totalled $1.05 billion or 21 per cent of total group operating revenue.

“Of this, over $B5O million was paid within Australia,” Bond Corp said. “One of the benefits that has flowed from the group’s acquisitions, including most recently the Bell Group, are substantial income tax benefits,”

it said. “The directors are of the view that governments in Australia should be prepared to encourage companies which through their investment policies, create employment.” Bond Corp said it was committed to reducing its borrowings through a limited programme of rationalisation. It had committed to sell, or had sold, property assets in Hong Kong, G. Heileman’s non-brewing operations, a 10 per cent interest in TV-AM, Pic, in London, the Hilton Hotel in Sydney and several central business district properties in Perth.