Samson net declines 49pc

PUBLISHED : Tuesday, 29 July, 1997, 12:00am
UPDATED : Tuesday, 29 July, 1997, 12:00am

Samson Paper Holdings said profit attributable to shareholders fell 49 per cent to $43.6 million in the year to March 31, from $85.2 million in the corresponding period last year. The paper wholesaler blamed falling margins and overstocking by Hong Kong paper users for its fall in earnings, despite managing a 'year of record sales tonnage volumes'. Samson said overall sales volume rose 28 per cent this year to 256,899 tonnes. Turnover rose only 2.5 per cent to $1.8 billion. Samson declared a final dividend of 1.5 cents per share, bringing its overall dividend for the year to 3.5 cents per share.