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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Sep 08, 1972
Page
9
Fractured text outlines service details with incomplete phrases. Key items and proper nouns are unclear. The readable portion hints at openings, dates, and networks but lacks coherent events or names to confirm specifics.
Carlton and United Breweries Ltd, Australia’s biggest group, lifted the annual dividend from 13 to 14 percent as group profit, subject to audit, rose to a record 11,945,374 dollars for the year to June 30, up 24% from 10,627,052 dollars in 1970 71. Revenue grew amid a complex earnings picture and interim results showed strong gains earlier in the year.
Mr Lyell's partnership with Treburstries and North-West Mines over a sulphuric acid plant shows large write downs and capital losses. Papers reveal initial capital of 10.4 million, later unsecured funding of 1 million, and 4 million in establishment costs. North-West reports 1288R1 tons produced, with price renegotiations and higher production expected to push toward profitability in the current year.
Utah Development Corporation, an iron ore and coal mining group, reports net earnings of 10.004 million dollars for the nine months ending July. The Australian-listed Utah Mining Australia holds a 10 percent stake in UPC, which plans a maiden year-end dividend of 20. Additional gains stem from expansion in Queensland and mine operations at Mt Goldsworth and Perk Downs, despite disruptions from a Japanese seamen strike.
FCA Finance Corporation of Australia Ltd announced a standby facility from a consortium led by Morgan Guaranty Trust Co of New York. Chairman R S Turner said the funds are available on short notice to enable more profitable use of FCA resources. In mid August FCA reported a 39 percent net profit rise to a record 4 million dollars after setting aside a further 4 million for taxation.
Directors report that the company uses the equity method in preparing accounts. Latest year profit on a non equity basis reaches 4.0 million with a 20.1 percent rise from a prior 3.9 million. Dividend rate remains 6 percent with a final dividend. new shares participate in the 1973 windfall. Subsidiaries Sentainers Terminals and Bulkships show strong profits while BR W Miller Holdings is still recorded on a dividend received basis.
Plans outline a $4.8 million peak cost for the Vy Laake diversion project. A dead end will be pulled on October 2. Shirehollers event slated for October 5. The annual ieenne will be held in Melbourne on Ovober 2h.
J B Young profit rise for BC Young Holdings Ltd despite a shorter trading period lift in earnings to 1 243 500 for the year to July 26 from 1 061 300 for the year to August 25 197? Directors note after tax 1 210 60 and depreciation 201 901 with sales 16 percent higher than the prior year.
Brash lifts Brash Holdings Ltd dividend rate from 9% to 10% with a final 6% after substantial year to June. Directors report earnings include a capital profit of 7200 from investments sales and a currency revolution impact. Dividend to be paid October 27 with annual meeting set for November 15.
Crestknit Industries Tid will issue a one fin six bonus sate of new shares and lift the dividend rate from 18% to 20% with a final 11 following worse in profit for the year to June Wi. The stock exchange notice states the company earned higher profit, with earnings up by 22.3% from the prior year, and notes improved earnings per share despite weaker results.
McPhersonas Ltd Melbourne tool and machinery maker plans a steady 8.33 percent dividend with a final 4.33 percent, following a slightly higher net profit of 2.4 dollars in the year ended June 30, per stock exchange notice.
Shareholders of United Uranium NL meet today to decide on two board appointments as control sits with others. The Bank of New South Wales has appointed Harold Victor Quinton as receiver and manager after directors asked this week to suspend trading in the company’s shares.
The NSW Equity Court heard that R W Miller Holdings directors including A N Taylor knew a 4.4 million share allotment to Howard Smith Ltd violated listing rules and delisting could harm shareholders. Taylor voted for the motion while Lady Miller opposed. Sir Peter Abeles was excluded from debate due to conflict. Cameron warned delisting would follow the allotment as Miller faced financial strain.
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