CENTURY TEXTILES AND INDUSTRIES- Low Profit in Cement

CENTURY TEXTILES AND INDUSTRIES Low Profit in Cement CENTURY TEXTILES AND INDUSTRIES has fared well during 1987 with sales, profits and margins considerably higher than the respective levels reached in the previous year. The directors have stepped up dividend by 4 points to 24 per cent. Sales have amounted to Rs 355.71 crore against Rs 283.54 crore and gross profit has expanded from Rs 31.22 crore to Rs 52.36 crore. With depreciation requiring a substantially higher provision and tax liability claiming Rs 3 crore against nil previously, net profit has turned out to be a shade lower at Rs 15.95 crore (Rs 15.96 crore). Even so, the enhanced dividend distribution is covered 2.5 times by earnings as against 3 times previously.