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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Aug 01, 1970
Page
10
A turbulent trading week sees strong buying at WMC lifting shares to 116, while SUE and ERA figures influence overall sentiment. Mining names like Vale and Le Vale Jat show gains amid brisk activity before easing. hardware stocks hold around 19 as market closes mixed with late gains and cautious demand.
The readable text presents a jumbled mix of phrases likely from OCR with no clear events or entities. It lacks coherent names, places, dates, or actions suitable for a factual summary.
Beau Monde, a member of the Austin Group, announced a takeover bid for Hardware Hollings Bed. The move followed weeks of market chatter as Hardware Hollings’ shares rose to about 12 buyer bid in Melbourne trade. The bid values Hardware Hollings at roughly 34.0 million, tied to a prior agreement between directors and Pacific Paper operations across Victoria NSW Queensland Tasmania and New Zealand with related folding carton plants and foam products.
The Australian share report shows WWM Wangaratta Woollen Mills Ltd posting a consolidated net profit of 270 658 for the year ended May 31, up from 8257 992 after tax. Directors maintain the final dividend at 15 percent, with an overall year dividend of 22 percent on ordinary capital. The result reflects earnings growth and stable payout despite depreciation charges and prior provisions.
The snippet shows scattered numbers and names with no coherent story. It mentions capital inflow figures, months and a sale context but lacks readable structure. No identifiable people or organizations form a coherent item to summarize.
The Commercial Bank ing Company of Sydney announced N E M'inkle as assistant general manager. Winckle becomes chief inspector and will replace Bowen as general manager on September 1 after Caven retires. State manager Manin is named assistant chief inspector and returns to the head office. Hindmarsh moves to the metropolitan division as inspector.
Directors Electronic Industries Ltd and Astor group advise acceptance of Philips takeover offer. The three months to March show a profit shortfall vs year, with a year end forecast unchanged.
The Statistics Bureau reports that retail sales excluding vehicles, petrol and related goods rose 7.3 percent in 1969-7 in seasonally adjusted terms, with total retail sales at $7,024 million and $746.4 million in seasonally adjusted terms. The June quarter shows 4.8 percent growth from the prior year, and the trend suggests monetary restraint has had little impact on consumer spending despite government tightening and refined credit boosting in the same period. Warwick Bracken notes possible further tax measures in the Budget.
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