Goodman profit up $1/4 billion

Press, 30 September 1988, Page 18

Goodman profit up $ 1 /4 billion

PA Wellington Goodman Fielder Wattie yesterday reported a 42 per cent rise in after-tax earnings for the year to June 30 to sAust2oo.3 million ($NZ256.7M).

The company’s directors announced a final dividend of Aust6c a share making Austllc a share for the year, compared with Aust7.Bc a share for 1986-87. The result compared with sAustl4l.osM in 1986-87 (SNZBO.SM). In the latest year earnings per share were slightly ahead at Aust22.9c (Aust22.2c previously). Goodman Fielder had pre-tax profit of sAust29l.9l (SNZ36BM), up from sAust2l7.9lM (5NZ274M) made on sales up to sAust2.l6 billion (SNZ2.SB). In addition, the company had other income of sAustls4.63 million (SNZI94M) compared with sAust23l.osM (5NZ292M) previously). The result includes eight months of Wattie Industries. The bottomline was brought down to sAustl39.73M after inclusion of extraordinary items, which were a loss of $60.57M.

In 1986-87, extraordinaries were a sAust46.l3M gain, taking the final result to sAustlB7.lBM. The latest, result was after a tax credit of sAustl.BsM, compared with a tax charge in the previous year of sAust23.s9M. It was also after equity accounted profits of sAust97.2oM (sAust4s.o2M), minorities of sAusts.69M (sAustB.B4M), interest of sAustlBsM (sAustB9.4M), and depreciation of sAust64.77M (sAust37.6sM). Ordinary shares on issue at balance date were 965.35 M more than double the total of a year before (5465.02 M reflecting the merger with Wattie. The final dividend will be paid on December 1. Goodman Fielder’s net tangible asset backing was Austl29c a share (113 c previously).