Tag sags
PA Wellington Tag Corporation has announced a sharp 77 per cent drop in its total profit to $337,000 in the six months ended December 31 compared with the previous corresponding period. The investment company’s directors said the downturn reflected a slowing in business in New Zealand.
The profit drop could have been worse, but for a reduced tax bill, down $444,000 to $83,000. The company said the 23.1
per cent reduction in turnover to $lB million was because the Motor Services Group was sold in the previous financial year. A poor performance by subsidiary, Lectrica Holdings, was also a factor in the downturn.
The interim dividends have been reduced from 3.75 c a share to 1.5 c (3 per cent) for ordinary shares and from 1c to 0.75 c (1.8 per cent) for Property Link shares. The dividends are payable on April 11.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19890331.2.89.2
Bibliographic details
Press, 31 March 1989, Page 14
Word Count
145Tag sags Press, 31 March 1989, Page 14
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in