Company Note
By LOTHBURY
MR Val Duncan, chairman of the Rio-Tint Zinc Corporation, gives a detailed accoun of its activities during 1965. He comment strongly on the long-term effect of the pena taxation now imposed by the Government 0 companies trading overseas. The company wi have to find an additional £21 million a year, from 1968 onwards, to maintain the current rat of dividend of Is. 9d. As an international group, the company's future prosperity is largely de- pendent upon world economic conditions, but is continuing to widen its interests, which roughly now consist of copper 19.5 per cent, steel 15.7 per cent, lead and zinc 12 per cent, iron ore 11.2 per cent, uranium 7.3 per cent, aluminium 61 per cent, chemicals 4.9 per cent, oil 4.4 per cent, other minerals 2.6 per cent and miscellaneous 15.7 per cent. The chairman states that the stag: has now been reached when the company TO benefit from years of planning and developing a number of major projects. The group net profit after tax, has risen from £8.7 million to £93 million. The 10s. shares at 34s. 6d., yielding 5 per cent, are an excellent long-term holding.
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