PROFIT CUT BY OLYMPIC
20 p.c. Down For Half-year (N.Z. P.A-Reuter —Copyright) SYDNEY, March 7. Net profit of Olympic Consolidated Industries. Ltd., Melbourne, was about 20 percent lower in the six months to December 31, after severe competition in the tyre industry. In a brief interim report, directors said the competition had come from both local and overseas sources. The lower result was in spite of higher sales achieved during the period. No figures were included in yesterday’s announcement. The board had decided to hold interim dividend at 2.25 cents a share (4| per cent). In 1964-65 this was followed by a 2.75 cents (5J per cent) final distribution. The year’s full 5 cents (10 per cent) was covered almost twice by earnings of 9.8 cents (19.7 per cent) on ordinary capital.
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Press, Volume CV, Issue 31003, 8 March 1966, Page 20
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132PROFIT CUT BY OLYMPIC Press, Volume CV, Issue 31003, 8 March 1966, Page 20
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