Directors gain in pain
EMOLUMENTS at National Electronics Holdings went up despite increased losses at the operating level and a huge reduction in attributable profit.
Profit attributable to shareholders for the year to March 31, fell 88.3 per cent to $30.23 million from $259.09 million. Earnings per share fell by a similar margin to 2.4 cents.
Emoluments to directors amounted to $19.9 million, up 18.45 per cent, from $16.8 million. Payments of up to $4.5 million each were made to two of the nine directors. The 1994 figures included an exceptional of $285 million. The 1995 figures included a $54.89 million exceptional.