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This newspaper page contains 12 articles. Subscribers can read the full text of each article.
Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Apr 12, 1968
Page
11
A London dispatch reports Vauxhall BP-Esso Perch well exports increasing as a new rejection of the rapid valuation affects British motor exports. The piece notes shipments both home and abroad during the first five months of the year, with cars among the items.
The Perch A I oil discovery off the Gippsland coast is reported as uneconomic by the BHP Esso partnership. The floating drilling rig Glomar TIT continues drilling toward deeper formations.
Asset mix shifts as Celeo Holdings and Kempthorne Holdings report interim statuses amid asset recoveries in lighting and electrical sectors. Nautilus Act yields a new well while Melbourne deliveries show profit upticks. dividends and future issues discussed. Directors forecast improved pre tax profit, but interim dividend uncertain amid mixed regional activity.
A volatile trading day spills into the market as Direct Acceptance and Kimberley Holdings pace turnover of about 210,098 shares. The mystery buyer’s strong presence is noted while brokerages report ongoing activity from Oursina SA.
At the close of trading on the stock exchange floor brokers withdrew as buyers and sellers. Rumors circulated that the insurance company linked to interstate carrying business, Javes McVitty, would close its Mel sourme operation. The managing director Mr Price confirmed the firm would wind down its remaining activities.
The Petersville company faces drought and devaluation pressures as it reports expected 1967 68 profits may rise with summer sales of ice cream and new dairy products. Shares note conservative outlook while export losses loom in Japan and Australia, with management signaling potential assets adjustments and board balance sheet revisions.
The Sydney based company J Blackwood and Son plans a one for ten par issue of 31 ordinary shares to restructure capital. The item notes the par issue is proposed by the firm and outlines share class details.
The Melbourne Stock Exchange reports Royal Tasmanian board directors in Melbourne announced a meeting at 7pm to discuss new plans for a local paper mill. New shares valued at $2.64 with rights priced at $3.90 a share, pending final dividend for the year and a potential takeover bid by Associated Pulp and Paper Mills Ltd.
Directors of Swan Brewery report trading and sales for the year have progressed satisfactorily with an increased profit for the period.
Directors anticipate that profit for the full financial year will show further progress, indicating continued improvement in earnings and stronger financial results ahead.
ES & A, the English Scottish bank with Australian ties, reports higher interim profits amid a 2% dividend tease and improved net results. Directors note stronger momentum, but warn on capital, with interim payout set near half-year level and governance chaired by Mr P A Malouf.
Nestle Australia posts a 15 percent increase in net profit to 2.165 million with dividends totaling 2.296 million and continued expansion plans. Metters Ltd reports world wide sales growth and outlines ongoing capacity investments and product improvements amid market competition and currency effects.
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