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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Mar 30, 1973
Page
3
Sims Consolidated Led reports a net profit of 1,225,497 for the months to January 31, up from 1,001,672 in the prior period. After tax profit stands at 1,168,327. A dividend of 0 is proposed, with emphasis on currency effects and gains from investments boosting overall earnings.
R Bryce profits rise as December results show improved earnings while dividends increase to 16 percent with final payment due in April. Melwraith Industries reports 14,055 in profit with steady 10 percent dividend, and Seley Shirmover notes lower six month profit amid high costs. TRH Industries posts a 40 percent drop in net profit to December 1 with a 26 percent fall in investment returns.
Woodside Burmah Oil NL reduced its estimate of recoverable gas in the North Rankin structure on the North West Shelf by about 373 million cubic feet. The revision follows external review and aims to align reserves with independent figures, as plans for further appraisal drilling proceed amid a complex geology and ongoing industry-government scrutiny.
Santos, a natural gas producer, reports doubled profit for the half year ending December 31 but will not pay a dividend. Revenue rose significantly as costs and exploration continue. Directors say the plan aims to reinvest and grow output, with several wells and projects in motion despite market challenges.
Slater Walker reports a significant profit rise for its holding group Austen Na Ltd, with earnings per share climbing from 8.35 to 12.8 percent. The group cites depreciation charges and a restructuring including the cessation of a subsidiary as factors in the year’s results.
Preliminary figures from the Bureau of Census show 39,700 new motor vehicles registered for use in Avira Nam rods in February, up from 43,02 in the previous month. The February total marks a slight year over year rise from 37,06 last year.
A government survey from the Department of Secondary Industry reports manufacturing activity easing in the September quarter with a tentative rebound later. It notes capacity usage below normal, cautious expectations for further gains, and ongoing quarterly publication plans to track short term trends in the sector.
Dr Patterson, Minister for Home Development, announced a sugar supply price adjustment to offset US dollar devaluation. The change shifts denominations to local currency and raises the price under options starting after 1 April. The executive committee of the Tavern Canal Organization in London reportedly raises prices to 7.60, affecting exporting countries and traditional suppliers.
Instalment credit balances outstanding at February end show a decline from the January total. A provisional estimate from the Kurenu of Genus and Rinistics puts the February end balance at 1.79 billion, reflecting a continuing downward trend from the prior year. At January’s close, breakdowns showed 577 million used for new car sales and 338.3 million for used cars.
Timber group Soft wood Holdings Ltd announced a one for two issue of deferred dividend shares. Shareholders will be asked to approve an increase in nominal capital to F10 million. The bonus will take effect after a June 30 1346 valuation of the lands and assets. The meeting will consider revaluation and expansion plans for the subsidiary.
Wool prices fell at yesterday's Goulburn sale with medium and coarse wool showing a drop of around 19 shillings per 4 kilogram while finer wools eased slightly. Carding wools eased 1 to 2 pence cleaner, with Zara, depan and Western Europe as main buyers. Eastern European mills were quiet. A total of 21 823 bales watched, 98 went to the trade and the rest were passed.
Acting Treasurer and Minister for Social Services Hayden said the government had revived the economy with measures welcomed in parliament. He noted a Mayden claim of a second phase of economic policy later this year and rebutted a Samuelson study cited by Fewer, asserting the OECD survey shows the professor was misled.
Fragmentary OCR text presents unclear names and events. The readable bits offer no concrete person, place, or action to form a coherent headline or factual summary. Unable to extract a plausible news item from the fragment.
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