COMPANY AFFAIRS.

Auckland Star, Volume LXVIII, Issue 201, 25 August 1937, Page 4

COMPANY AFFAIRS.

G. J. COLES AND CO. INCREASE IN PROFITS. TEN" XEW STOKES OPENED. j Substantial increases in both sales and profits are reported by the directors of G. J. Coles and Co., Ltd.. for the year ended June 30. Xet profit was £223.400, compared with £154,50 l the previous year. The ordinary dividend has been raised from 12% per cent to lS9i per cent (.3 9 a share), the total distribution, including the 8 per cent preference charge ot £12.000. requiring £ 1 53.224. The directors recommend a transfer of £40.000 to general reserve. Directors' salaries and fees are shown in the profit and lose account at £15.959. Paid-up capital was increased during the year by the issue of 14.580 ordinary shares to employees at 60' a share, and by a further issue of 163.070 ordinary shares at 40/ each to ordinary shareholders on a one for five basis. Premiums from the issue amounted to £ 102 230. Last month the directors announced a bonus issue to ordinary shareholders of one new fullypaid ordinary share for every 10 ordinary shares held on July 31. Ten new stores were opened in the year, and seven sites were acquit ed upon which the directors expect to have stores erected before the end of this year. A warehouse of two floors is in process of erection on the site purchased at Pyrmont (X.S.W.I. Freehold properties increased during the year by £54.5)80. A comparison of balance-sheet items is given below: — Year ended June .10. 1935. 1!>37. l " C - Gross profit .. 940.~1.39 i.0.-0~325 1.199.511 Net profit ... 131.445 154.851 223.400 l»iv.. pf. S p.c. 12,000 12.0(10 12.000 I) i v.. <>rd.. p.c. 10 12} IS3 Bonus 2.J — — I>ivs.. ord.. ain t. *80.700 99.850 171.224 To gen. reserve 30.(too 43/mu 40.000 Forward 011 COG 752 LIABILITIES. Capital— Preference . 1 .">O,OOO 150.000 150.000 Ordinary . . 723.600 800,775 97N.425 Reserve .'.... 55.354 U5.354 1f,1.354 Provision for income tax . 49.359 C 2.756 04,445 Premium on shares res've 69.14G 60.415 252,040 Freehold depreelation res've HO.OOO 74.074 90,|0_ Creditors SO.IBS 106.050 00,007 E 111 plo ye es' _ superannuate 5,702 C.SOS 0.98savings funcl 17,778 17.037 19.544 Bank — 02,730 — ASSETS. Freehold .... 453.205 572.151 6(2,102 Leasehold .... 143,103 1(4,918 200,1*0 Fixtures, plant 231.1*17 251,251 253,(»•»•> Stock 373,139 484,045 4 («..." 1 Investments . 15 l-> £•' Debtors 2,1!I0 3.0u3 9.(1.3 Cash 65.288 8.4-»2 21,4.(03 Goodwill .... ■ — 54.000 54,000 •Including bonus.

DUNLOP RUBBER. INCREASE IN PROFITS. In a preliminary statement issued, the directors ot the Dunlop, Perdriau Rubber Company, Limited, announce that the net profit for the year ended June 30 last, subject to final audit, was £409,760. *1 his profit is £ 104.000 higher than that recorded in 1935-30. and it is the best reported by the company since 1929, in which year £411.030 was earned following the amalgamation of the Dunlop and Perdriau companies. The directors recommend the payment of a final dividend of 5 per cent for the half-year on cumulative preference shares, making 10 per cent for the year, and a final dividend of 4 per cent on ordinary shares, making 7 per cent for the year ended June 30. The ordinary dividend compares with .5 per cent in 1935-30. No ordinary distribution was made in 1934-35. In that year the profit was £120.020. A drastic reorganisation of the business was undertaken in 1935. Mr. W. A. Bartlett was appointed general manager, and his wide experience of the rubber manufacturing industry in Britain and the United States enabled the company to combat rising costs and resume the payment of ordinary dividends in the following year. Since then the company has expanded its activities, and its manufactures now cover a wide range of products. The latest profit is equal to 8.4 per cent on ordinary capital after allowing for the 10 per cent preference dividend charge of £93,000. The corresponding figure last year was 5.6 per cent. Dunlop. Perdriau has a large interest in the Barnet Glass Rubber Company, which also has announced gientlv increased profits for 1936-37. Profits and dividends of Dunlop. Perdrii'u for the last three years are compared hereunder: — •34-'3"». '35-"30. "30 '37. t v: e Profits .... 120.020 (oil."tin lHviilrnils .. 03.000 251.300 350, '100 Prrf.. p.c. . . 10 10 10 Oril., p.c. . . . — 5 5 HIGHEST SINCE 1929. PROFIT OF BARNET GLASS. Barnet Glass Rubber profit for the year ended June 30 whs £81.36b. This compares with £48.837 in the previous year, and £45.705 in 1034-35. The profit for the financial year just ended is the highest since 1928-29. when £ 127.638 was earned. The directors recommend payment of a final dividend of 6 per cent for the haltyear on cumulative preference shares, making 10 per cent for the year, and a final dividend of 8 per cent on ordinary shares, making 11 per cent tor tlie year. Nearly all of the 5.t0.000 £1 ordinary shares are held by the Dunlop, Perdriau Rubber Company. Limited. CLAUDE NEUN, LTD. PROFIT INCREASES BY £9454. The directors of Claude Neon. Ltd. (Sydney), report that the not profit for the year ended June 30. after providing for taxation, amounted to £30.990. A final dividend at the rate of TVs per cent lias been declared, making the total dividend for the year 10 per cent, which absorbs £ 15.357. Out of the balance remaining in profit and loss appropriation account. £ I0,:?S7 has been transferred to general reserve. The net profit the previous year was £21,536 and the dividend lj per cent. NEW ZEALAND DRUG. SAME INTERIM DIVIDEND. (By Telegraph.—l'ress Association.) Dl XEDIX, Tuesday. The directors of Kempthorne Prosper ' and Co.'s New Zealand Drug Co.. Ltd.. j have declared an interim dividend of 3Vb I per cent for the half year ended July 31. j The dividend is at an unchanged rate. 1 The final dividend last year was per cent, making S per cent for the year. WINCHCOMBE, CARSON. i Winchcombe, Carson. Limited (Sydney). 1 wool-broking and stock agency company, 1 reports a profit of £65,089 for the year ; ended June 30. an increase of £7206 com- I pared with the previous year. Dividend j . is unaltered at 8 per cent (4 interim and i 4 final), and accounts for £40,000. a sum j of £20.000 is transferred to reserve, and the balance £5089. with £6180 brought for- j ward, gives £11,269 to be carried forward !

| NEW JAPANESE FIRM. J F. Kanematsu (N.Z.), Limited. Auckland. has been registeied as a private company. Capital: £5000 in shares of £1 each. Subscribers: New South - WalesK. Sohno 500, J. Gunton 500, S. Mizobuchi 500, T. Mariwaki 500. T. Sakagami 500. F. Kanematsu (Australia), Limited. 2500. Objects: Maruitcturers, i traders, agents, etc., an J incidental.