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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Sep 07, 1968
Page
11
Slater Walker Securities Australia Ltd has completed a takeover of the Halifax group of companies for 600 thousand dollars. The transaction places Slater Walker as the controlling owner of Halifax, with details of the deal disclosed to shareholders and market authorities.
Sir Colin Syme, chairman of Broken Hill Proprietary, stated yesterday that due to rising costs and softer demand, Australian steel cannot be deemed the cheapest in the world. He cited a world surplus of production over consumption and outlined ongoing investments and dividends amid the company’s 1967-68 results and regional expansion plans.
Osti discloses terms for Genter Osti Holdings Lta offering one share for every two fully paid Genter Ltd shares. The report notes possible effects on steel production costs and export prices as the market faces price pressures and potential production adjustments amid a difficult year.
The BHP leadership pushed the goal of oil self sufficiency while acknowledging long odds remain. Directors cited alternative methods and discussed public share issues, with focus on Cape York oil prospects and varied mining projects.
A NZ company benefited from a large tax cut and depreciation changes after a devaluation. Directors discussed how depreciation charges and revaluations affected profits and dividends, with questions over whether inflation should be accounted for and how capital gains interact with the profit and loss account.
Petersville Australia Ltd reports net profit rising from 1 565 478 to 1 678 971 for the June half year 1967 63 with stronger sales across divisions despite drought devaluation and high milk costs. Directors note strengthened earnings but dairy division remained loss making due to world price weakness and raised costs. Dividend policy unchanged with shareholder payout held.
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