COMPANY AFFAIRS.

Auckland Star, Volume LXV, Issue 149, 26 June 1934, Page 4

COMPANY AFFAIRS.

AUSTRALIAN GLASS. BUILDING UP KESEEVEB. An increase in net profits of £7163 to a total of £129,602 is shown in tiie accounts of the Australian Glass Manufacturers' Co., Ltd., for the year ended .March 31 last. Final dividends of iVi per cent for preference and 5 per cent for ordinary shareholders were announced in the "Star" on May 17. This made 9 per cent for the year, requiring £83,743 for dividends on ordinary shares and .-C 15,7.10 on preference shares. A comparison of balance-sheet items is given below:—

Yfnr emleil March 31. 1082. 1033 1034. Not prbflts ... 92.7.37 11>2.430 120.602 To reserve — 20,000 *1>3.000 Div,, on]., p.C. • 7& ft i>; VMv., orcl., amount C!).7SCi 83.743 53.743 Dlv.. nref., 0 p.C. 15.7G0 15,750 15,750 Forward 102.2G4 105,210 »31,10 C Gross profit, Interest, etc. 253.706 370,801 417,793 Linhllltins— Capitnl— Ordinary ...030.478 030,478 930,478 Preferenco .. 175,000 175,000 175,000 Reserves 350.870 400.57G 500,000 Creditors and taxation provi sion 100,101 ISI.OOO 102,180 Assets — Freehold 180.043 180,985 101,821 Machinery .... 238,252 230,780 234,780 Stocks 371,1 H(i -120.754 405,075 Debtors 205.302 280.330 317,188 Cash — 13.008 7.220 Goodwill 114,500 11-1,300 14,500 Loans nnd Investments . 078,514. 503,101 551,702 *A sum of £74,123 was carried to reserve out of the balance brought forward from the previous year, making the total addition to reserves £09,123. Gross profits, Interest and rent show an increase last year of £40,092. Ceditors, including taxation provision, are higher by £10/280, but debtors have risen by £30,808. Stocks show an increase of £45,221, and cash is lower by £6442. There has been a reduction of £43,339 in loans at short call and investments. The net profit is the highest since 1930, when £187,168 was earned. The company was formed in 1022, and a dividend of 10 per cent was paid on ordinary shares annually to 1930 (inclusive) with a bonus of 2V4 per cent in 1929 and liXiO. In 1031; as a result of a drop iu not profit to £76,708, the ordinary dividend was reduced to 6 pur cent, but was increased in the following year to 7Mj per cent and in 1933 to 0 per cent.

PRESTIGE (N.Z.), LTD. INCREASE IN CAPITAL. Shareholders of Prestige (N.Z.), Limited, hosiery manufacturers, at a meeting in Wellington, approved of a proposal to increase the capital of the company to £65,000 by the creation of a further 20,000 shares of £1 each. The present authorised capital is ill 20,000 £1 preference and 20,000 £1 ordinary shares.

H.M. THEATRE ARCADE. DIVIDENDS MAINTAINED. (By Telegraph.; — Proas Association.) "WELLINGTON, this day. His Majesty's Arcade and Theatre Company has notified the Stock Exchange Association that the directors have declared an interim dividend for the halfyear ending June 30. 1934, on preference shares, at the rate of 6Ms per cent per annum, less the statutory reduction ot 20 per cent, making 2 3-5 per cent. On ordinary shares the dividend will be maintained at the rate of 5 per cent per annum, the same as last year. Payment will be made on July 1.