THE VIRGINIAN-PILOT
Copyright (c) 1997, Landmark Communications, Inc.
DATE: Saturday, February 22, 1997 TAG: 9702220254
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
LENGTH: 51 lines
The Meridian Group-Marketing Communications received four Adrian Awards from the Hospitality Sales and Marketing Association International. The agency received two silver awards - one for a four-color direct-mail brochure for Kingsmill Resort in Williamsburg and the other for a full-page, four-color advertisement for the Providence Biltmore Hotel in Providence, R.I.; a bronze award for a direct-mail brochure on behalf of the Grand Hotel in Washington, D.C.; and a bronze award for a direct-mail campaign to promote the Grand Heritage Hotel chain of properties. NEWPORT NEWS NOLAND REPORTS ANNUAL EARNINGS GAIN
Noland Co., the Newport News-based home products distributor, said Friday that its earnings rose 18.5 percent to $5.86 million, or $1.58 a share, in 1996. That compares to a $4.95 million, or $1.34 a share, profit in 1995. Improved internal operations and higher gross profit margins more than offset a ``disappointing'' 1 percent decline in sales, Chairman Lloyd U. Noland III said. Sales in 1996 were $465.7 million, down from 1995's record $469.5 million. Noland operates 107 branches in 14 states, distributing air-conditioning heating, plumbing, electrical and refrigeration products. Noland's lightly traded stock last sold Thursday for $21 5/8 a share. The ask price Friday was $23 1/2 a share, while the bid was $22. VIRGINIA BUNZL PLC TO BUY AMERICAN FILTRONA UNIT
Bunzl PLC, a British paper, packaging and printing company, said Thursday it agreed to buy the bonded fibers business of American Filtrona Corp. for $72.45 million. Under the deal, American Filtrona, based in Richmond, will be acquired by WBT Holdings LLC, a company owned by trusts for the benefit of members of the Walter Bunzl family, for $46.52 a share. STALLARD HONORED
Hugh Stallard, president of Bell Atlantic-Virginia, was named Virginia's Outstanding Industrialist for 1997 by the Science Museum of Virginia in Richmond. DOMINION DIVIDEND
Dominion Resources Inc., parent of Virginia Power, declared a regular quarterly dividend of 64.5 cents a share of common stock. The dividend is payable March 20 to holders of record March 3. MEMO: To submit an item for the Local Scene, please fax it to 446-2531.