Radio Pac profit slips to $121,000
Radio Pacific has reported a sharp 82.3 per cent drop in its total profit to $121,000 for the year ended March 31, but the Auckland private radio broadcaster is still proposing a bonus share issue of one-for-18. . The bonus issue would be tax-free in the hands of shareholders, the company said.
The $253,000 extra ordinary loss related to the writeoff of goodwill and the costs of the company setting up a radio station in the Waikato. The items also included deferred tax provisions. The ex bonus date is July 25. No dividend was recommended in the report to the Stock Exchange.
Radio Pacific audited annual result ended March 31 Turnover. 1989 ($000) 5112 1988 ($000) . 5190 Change % —1.5 Pre-tax profit 437 ' 1278 —65.8 Taxation 53 596 —91.1 Trading profit. . 374 682 —45.2 Extraordinary loss 253 —— — Total profit . . . 121 682 —82.3
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Press, 11 July 1989, Page 28
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146Radio Pac profit slips to $121,000 Press, 11 July 1989, Page 28
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