Record profit by Biolab
PA Auckland Smith-Biolab announced an increase in its unaudited group tax-paid profit of 5.2 per cent to a record $1,407,000 for the year ended March 31. In addition, there were extraordinary gains of $3OOO (last year, extraordinary losses of $21,000). The tax provision was $992,000 compared with $946,000 last year.
The profit was earned on group sales down 3.4 per cent to $25 million, although exports were 12.9 per cent
higher at $1,068,440. The results of W. A. Thompson and Company, Ltd, acquired in March have not been included in group figures. The directors are recommending a final dividend of 11 per cent (5.5 c a share) making a total of 18 per cent for the year (same as last year). The final dividend will be paid on August 29. It is intended that 5c a share will be paid from tax-free sources. The directors are seeking High Court approval to make available $484,000 of share premium reserves for future tax-free distribution to shareholders. Shareholders' funds now total $8,962,000, representing 58.2 per cent equity in total tangible assets. The ordinary dividend payments for the year total $459,725 (last year $381,545) and are covered 3.1 times.
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Press, 1 July 1983, Page 17
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199Record profit by Biolab Press, 1 July 1983, Page 17
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