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Rural Press lifts dividend
27 Aug 2004
Rural Press has gone against the drought and posted a 27.3 per cent rise in net profit after tax to a record $87.1 million, with sales up 9.8 per cent to $515.6 million. The board announced a 25 per cent increase in final dividend to 20 cents a share for ordinary shares and 22 cents on preferred stock.
Rural Press's publishing and print operations performed well despite the drought. Managing director Brian McCarthy said the result was pleasing because it was volume-driven. It was advertising volume-driven and circulation volume-driven, he said, not price-driven.
The company announced it will spend $50million over the next 3-4 years on a new press at Mundurah, WA, and increased colour capacity at the Whyalla, North Richmond, Launceston, Port Macquarie and Canberra presses.
Australian Financial Review, 27/8/04.
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