PYE PROFIT DROPS
Dividend Is 10 p.c. (N.Z. Press Association) AUCKLAND, June 15. Net profit of Pye Electronics, Auckland, dropped by slightly over 50 per cent in the year to March 31, but the 10 per cent dividend was more than one and a half times covered. Depreciation was higher. Subject to audit, consolidated tax-paid profit will be in excess of £240,000, directors announced in a preliminary statement today. This compared with £506,842 earned in the previous year, £430,135 in 1964 and £167,701 in 1963. Result was after depreciation of £121,221, an increase of £30,342. Latest result represented an earning rate of at least 17.1 per cent on capital. Last year earning rate was 36 per cent. Dividend would be 10 per cent, as forecast in January in a circular to shareholders and required £140,340. Last year, it was raised from 12} to 15 per cent. Dates for payment and closing of the register have not yet been set.
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Press, Volume CVI, Issue 31087, 16 June 1966, Page 19
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159PYE PROFIT DROPS Press, Volume CVI, Issue 31087, 16 June 1966, Page 19
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