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S.A.L. Limited Reports Half Year Earnings for the Period Ending 31 August, 2000
The Company reported net income of $1,206,871 ($4.33 per share) up from $1,121,207 ($4.01 per share) in 1999. Sales for the period fell to $8.70 million from $9.44 million in 1999.
In his report to shareholders, Mr. John R. Berg, President of the Company, noted that although turnover was down by 7.8% an increase of 7.6% has been realized in the net income due to a gain on the sale of assets. Further, he reconfirmed that the Company will redeem all outstanding preference shares at their par value of $10.00 each on 6 November, 2000.