COMPANY AFFAIRS.

Auckland Star, Volume LXVII, Issue 19, 23 January 1936, Page 4

COMPANY AFFAIRS.

BERLEI (N.Z.). INCREASED PROFITS. YEAR'S DIVIDEND 12V 2 PER CENT. An increase both in net profite and ii the dividend rate are disclosed in th< twelfth annual report of the directors of Berlei (N.Z.),, Ltd., for ide year endec December 19. The accounts show net profit, after making full allowance for depreciation anc income tax, of £6260. To this is added the balance of £594 brought forward frora last year. An interim dividend of 1/3 per share paid in July absorbed £2187 leaving at the credit of profit and loss £4667. From this the directors recommend the payment of a final dividend of 1/3 per share, absorbing £2187, leaving to be carried forward a balance of £2479. The directors' report states that despite disturbed trading conditions, particularly in the latter half of the year, the company has been able to record an increase in sales. The building plant and machinery and other fixed assets have been well maintained and liberal provision made for depreciation thereon. The continued co-operation between the associated Berlei Companies results in material benefits to the individual organisations. The retiring directors, Messrs. N. Z. Brodziak and S. Reid, are nominated for re-election. Profits in 1934 totalled £5746 and in 1933 £5865. This year's dividend of 12% per cent compares with 8% per cent last year. Paid capital stands at £35,000. Sundry creditors, including provision for income tax, total £7036, there is a reserve of £7500, and total assets, in-cluding cash in hand (£4247), are £54,202. A.M.P. SOCIETY. NEW DIRECTOR APPOINTED. LONDON, January 21. Tlio Hon. Geoffrey C. Gibbs succeeds the late Earl Jellicoe as a director of the Australian Mutual Provident Society. PRUDENTIAL ASSURANCE CO. ANOTHER RECORD YEAR. The following cable has been received from the directors of the Prudential Assurance Company in London by the head office of the company in Australia and New Zealand in Sydney:— "The directors announce that in the ordinary branch the new sums assured written during 1935, excluding group business, foreign treaty business and reassurances, exceeded £27,800,000. This represents an increase of £4,000,000 over the corresponding figure for 1934, and constitutes a record for the company. The annuity purchase money exceeded £2,300,000." For the second year in succession the company has established a record in its ordinary branch business. As the Prudential has a world-wide organisation these figures are significant of the wide-spread return of improved conditions. The Australian and New Zealand branches of the company, though inaugurated less than five years ago, exceeded £2,385,000 in new sums assured secured during the year, showing an increase of over £800,000 on the figures of the previous year.