COMPANY AFFAIRS.

Auckland Star, Volume LXVII, Issue 185, 6 August 1936, Page 4

COMPANY AFFAIRS.

WAIRAKEI, LIMITED. INCREASE IN PROFITS. DIVIDEND ADVANCED.. ! A substantial increase in profits anct a proposal to increase the dividend rate to shareholders are disclosed in the annual report of Vfcairakei. Limited. For the year ended June 30 net profit totalled £1424. To this is added the balance brought forward from the previous year, £258. leaving at the credit of the profit and loss account £1682. The directors now recommend payment of a dividend at the rate of (i per cent per annum, absorbing £1020, leaving £662 to be carried forward. During the year extensive renewals and additions have been carried out at Wairakei and at the present time a new hydro plant is being installed at the Huka Falls. The report states that the progressive policy of providing up-to-date facilities is being justified by increasing public patronage. The retiring directors, Messrs. S. Thorne George and P. E. Cleave, arc nominated for re-election at the annual meeting to be held on Friday, August 14. Past Years Compared. Results shown in the profit and loss accounts in recent years have been as follow :— * I'rolit. Gross. Net. Expenses. Div. £ £ £ p.e. 1034 81154 330 7 7 05 — 1035 5508 1108 4-100 5 1030 7.170 1424 5746 6 In 1933 there was a loss of £436 and the following year the capital was adjusted, bringing the par value of the shares from 10/ to 5/. Chief items from the latest balance-sheet are: — Liabilities; Capital, £17,001; National Bank, £14,298; sundry creditors, £1149. Assets: Property, £19,290; buildings, £8326; furniture and fittings, £2938; plant and machinery, £2197; stocks, £937; cash, £309.

G. J. COLES' PROFITS. INCREASE TO £154,851. SYDNEY, August 5. G. <T. Coles and Company. Limited, Melbourne, reports a net profit of £154,851 for the year ended June 30. This compares with £131,445 earned in the previous year and £98,327 in 1934. Dividends are maintained at 12V& per cent on the ordin; < shares and 8 per cent on the preference capital.

The total dividend distribution is £111,495. against £101,700 in the previous year.