Slight Gain On Sydney Market

Press, Volume CV, Issue 30976, 4 February 1966, Page 16

Slight Gain On Sydney Market

(N.Z. Press Association —Copyright)

SYDNEY, Feb. 3.

The Sydney stock market gained ground slightly over the last week, the share price index rising 2.86 points to 327.84.

The mining section of the market continued to strengthen. Aberfoyle gained Is 6d to 22s 6d, Mount Isa gained Is 3d to 455, Renison gained 8s to 70s, and Ravenshoe gained 2s to 41s.

During the week the directors of King Island Scheelite (1947), Ltd., announced that consolidated net profit for the year to October 31, 1965, increased by approximately £162,127 to £254,616 after taxation of £14,665 (last year nil). The shares rose 5s 4d over the last week to 25s 10d. Bank of New South Wales rights eased slightly from 22s to 21s 2d.

Profits Up An announcement by the directors of G. J. Coles and Company, Ltd., said that group sales and profits have increased in the last six months. In some parts of New South Wales and Queensland sales were affected by the drought, and during the Christmas trading period, sales in some city areas were not up to expectations. The price of the shares was virtually unchanged; they are currently being traded at 13s Ud.

An announcement by the directors of Australian Guarantee Corporation, Ltd., that the audited net profit for the half-year to December 31, 1965, increased by approximately 17.3 per cent to £1,271,222 brought little change in the price of the company’s shares, at present being traded at 13s 2d.