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This newspaper page contains 10 articles. Subscribers can read the full text of each article.
Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Nov 30, 1968
Page
10
London noon figures show Git Boulder advancing by 55 cents as traders in London and Sydney exchange updates on financial activity. The report notes overseas pricing shifts and cross market reactions amid cautious investor mood.
Fragmentary OCR text covers stock and market terms with names and places obscured. Reads like partial share option listings and commodity references across a Sydney exchange page. No coherent event or outcome detectable from available readable fragments.
Britain faces a mixed export outlook as large industrial groups report varied results. UK and Australian markets assess takeovers while a major offer prompts stockholders to weigh rejection.
CGFA extends offer for all KIS shares in a late move as holders weigh a full or partial sale. The bid values KIS at about one to two dollars per share, with CGFA signaling openness to accepting additional stock from investors who wish to exit. The offer remains open until December 27 and aims to preserve holders’ direct stake if they retain stock.
Directors of Astor Hotel Motels Ltd propose a writedown of issued shares from Sle to 250 units. Shareholders will consider the proposal at the annual meeting on December 19. A 25 write-down is not covered by assets, reducing paid capital from 3.7 million to 1.85 million. Directors revalued assets downwards by just over 2.1 million at June 30, cutting total assets to 4.88 million. Retiring auditors K Vidal O'Brien and I will not seek reappointment, replaced by Arthur Andersen.
Stack and Co Ltd of Sydney, General Motors Holten dealer, reports 1967-68 profit of 15982, down from a prior year loss of 335,832. Difficulties in the used car division early in the year weighed on results, prompting management and organisational changes. The board expects further improvement in 1968-69 if market conditions stay favorable. Rising wage costs reduced gross profit, and rental income not reflected in the year’s figures will benefit future results.
Smith Sons and Rees Ltd reports group net profit amp from $62,305 2K,55R for the year to July Trust. Directors cut the annual dividend from 9 to 6 per cent with pref. dividend charges, leaving marginal cover. Sales rose but higher costs and taxes fell. depreciation declined. A 2 per cent dividend is due December 19. books close December 13.
Declared sales rose for the October half year, with profits improving versus the prior period though offset by higher costs and competition. Directors say sales showed a satisfactory increase and the company performed adequately in a challenging market.
Bank of Adelaide chairman Sir Arthur Ryrill told shareholders the bank expects Australia’s growth to continue despite balance of payments strains. He cited stable world markets, political steadiness, and access to international capital as supporting a resilient economy. he noted restrictive credit policy but believed private sector expansion remains possible, especially in South Australia, with banks urged to hold additional deposits in statutory reserves.
Rabur Tea Co Ltd, tea and coffee merchants, reports a reduced profit for the half year to September 30 versus the same period a year earlier. Directors say the dip reflects absorbing ongoing coal price increases. Turnover for the period was slightly lower.
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