HI MES NET PROFIT
18 p.c. Fall In Half-Year (N.Z.P.A.-Reuter —Copyright) SYDNEY, March 10. Consolidated net profit of Humes, Ltd., concrete and steel pipe manufacturer, fell 18 per cent to 709.869 dollars in the six months to December 31, although sales edged up from 31.3 m dollars to 32.4 m dollars. Announcing the interim result, directors said lower profit reflected writing off expenses of the unsecured note issues made last year, and a higher provision for contract losses. The profit remained after increasing taxation provision from 681.192 dollars to 797,325 dollars and depreciation from 991,742 dollars to 1,295.531 dollars. Special Investment The special investment allowance reduced the taxation provision by about 54.500 dollars, compared with 40,000 dollars in the previous corresponding period. Interim ordinary dividend was steady at 6.25 cents a ■ share (6J per cent) indicating a continuance of last year’s 12.5 cents (12J per cent) dis-; tribution.
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Press, Volume CV, Issue 31006, 11 March 1966, Page 14
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148HI MES NET PROFIT Press, Volume CV, Issue 31006, 11 March 1966, Page 14
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