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Health sector growth helps Taylors clean up

By Phil Boeyen, ShareChat Business News Editor

Wednesday 30th August 2000

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Listed linen-hire company, Taylors Group, has announced a full year after tax operating profit of $2.31 million, jumping more than 27% on last year.

Taylors says the improved profit is on the back of a 2.2% rise in operating revenue for the year to the end of June of $39.125 million. It says most of that growth came from its three healthcare plants in Auckland, Hamilton and Rotorua.

Earnings per share for the group are at 9.5 cents, an increase of 2.0 cents on the full year 1999. A final dividend of 3- cents per share has been recommended and compares with 2.5-cents last year.

Taylors says the accommodation sector is showing the effects of price-based competition, and full year sales in that market dropped slightly to $12.78 million from $12.818 million, despite some volume increases.

The directors have described the latest result as a sound one and say they are confident of continuing growth.

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