SWAN BREW. EARNINGS

Press, Volume CVI, Issue 31096, 27 June 1966, Page 17

SWAN BREW. EARNINGS

Record Group Profit (N.Z. Press Assn.—Copyright) SYDNEY, June 26. The Swan Brewery Company in the year to March 29 achieved a record consolidated net profit, after higher tax, of 1,873,543 dollars up from 1,675,366 dollars in 1965. The ordinary dividend, lifted fractionally to 13 per cent for the year, and the preference charge takes 1,383,449 dollars. Latest profit is reached after providing 1,913,667 dollars for tax against 1,628,448 in 1965 and 912,072 dollars (902,882) for depreciation and amortisation as well as 10,000 dollars for fluctuations in raw materials and stock values. Renewal Profit has also been struck after charging 275,269 dollars for renovations and renewals, up from 219,890 dollars last year. Trading profit, including property rentals, was 4,821,892, about 500,000 dollars more than the previous year’s figure.

Income from investments was 155,847 dollars (129,344). In a detailed report on the year’s operations, the chairman (Mr Geoffrey Cohen) said that there had been steady development.

The constructional work associated with planned plant development was proceeding 'on schedule. It was expected that on the completion of the various phases, operational economies would ensue. There had been increased sales in almost every sphere of the group’s activities.