Tubemakers 1:6 bonus
Tubemakers of Australia, Ltd, said it would reward shareholders with a one-for-six bonus share issue after announcing a 63 per cent increase in equity net profit to sAust66.7 million (SNZB6.S3M) for the year ended June 30. The steel tube manufacturer and merchant, which is 49.8 per cent owned by BHP, carried on its strong first half performance into the second six months and is now poised to chase expansion possibilities in Australia and overseas. Group sales for the 12 months rose 17.2 per cent to sAustl.l9 billion, despite the divestment of none-core businesses in loss-making New Zealand associate, Steel and Tube Holdings.
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Press, 6 September 1989, Page 42
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105Tubemakers 1:6 bonus Press, 6 September 1989, Page 42
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