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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Feb 13, 1968
Page
8
Ardlethan reports first half earnings showing profit of 361,300 on simulated figures with a higher overseas marketing push lifting metal reff and smelter revenue. Previous similar period earnings totalled 240 and 229,55 with writers noting stability in recovery and improved overseas demand. Directors indicated ongoing overseas marketing efforts to drive higher smelter revenue though some price pressures remain.
The document outlines proposals for increasing nominal capital and a bonus by issuing shares at a premium. It notes a special meeting on March to approve a partial or full restructuring, with details on investor approvals and implications for ownership and company finances.
Chairman Mr R G Heppell of International Combustion Australia Ltd said directors indicated yesterday a bonus issue is being considered. The note suggests potential share issuance as part of earnings policy.
Directors consider a bonus and dividend for Hackshalls while valuing shares in subsidiaries. Interim dividends are proposed with a focus on profits and increased net earnings from core activity. The report notes new share issues and a planned distribution date, with details pending official announcement.
An assistant claims expansion near Norseman Gold Mines NL in Western Australia will add 4.800 acres to the Pavlis Algara area near Wirth Giemooltha. The news notes Mr Lege and local officials discuss the expansion and future negotiations with Norman Gold.
Aberfoyle Holdings reports higher operating profit for the December half year as stronger tin prices lift margins. The company notes expanded ore reserves at Norseman and Ravensthorpe areas and progress on Lutwyche prospects near Greenhushes NL, with about 9000 to 54,279 in December figures referenced. Directors cite the effect of higher wolfram and London Metal Exchange prices on results, while exploration continues across multiple claims including Storey’s Creek and Lunwide.
Jargies Bros Ltd reports two good months ending December 31 with sales and profit rising from the previous year. Directors expect full-year results to June show continued growth, noting profits increased and the interim dividend remains at one percent with the payout payable in April.
Advance Industries Ltd lifted half year profits to December 31 after a 227 per cent rise in sales. Profit rose from $85,341 to higher levels. Interim dividend planned to steady the trend. Directors stated yesterday that the continuation of the upward business trend is indicated by factors including factory activity and on-hand orders.
Timor Oi Ltd plans a complex placement totaling 25 million shares at par with seven companies. H C Sleigh Ltd and six others receive options to take up roughly equal numbers, totaling about 2.5 million shares. A rights regime may be offered, with offshore and onshore Timor exploration, and a planned stock exchange listing for new shares.
Beach Petroleum NL plans a new issue at par to raise an initial 500000, offering five million new shares two for one held, partly or fully paid. Book closes March 1. Underwritten by Melbourne brokers L and C Bulla and Ian Potter. Directors say Beach will continue marine surveys before assessing structures in Vincent Gulf, SA.
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