DALGETY AND CO., LTD.

Press, Volume LXIV, Issue 19460, 6 November 1928, Page 12

DALGETY AND CO., LTD.

NET PROFIT OF £351,000.

DIVIDEND OF 17 PER CENT.

The New Zealand superintendent lor Messrß Dalgety and Company, Limited, has received advice from the head office of the company in London that at the annual meeting to be held on November 15 th the directors will recommend a final dividend of 8 per cent., making, with the interim dividend already paid, 10 per cent, for the year ended June 30th, together with a bonus of 7s a share. The dividend and bonus will be payable on November 21st. The directors propose writing down premises £25,000, transferring £25,000 to the staff provident fund, appropriating £50,000 for the staff bonus and carrying forward £195,300. Last year the company issued 100,000 ordinary shares paid to £5 at a premium of £5 the final instalment being payable on September Ist, 1927. These shares rank with the old shares for both interim and final dividends of the past year, the capital now being £500,000 in preference and £1 500,000 in ordinary shares. With the premiums on the new issue, the reserve fund is £1,500,000. . Following is a comparison of the company's results and appropriations for the last three years, the amount of net profit for the lust vear being approximately correct:—

Carried forward .. £211,412 £223,465 £195,800

MOSGIEL WOOLLEN CO.

DIVIDEND AND BONUS.

[THE PEESS Special Service.] DTTNEDIN, November 5. The- directors of the Mosgie] Woollen Factory, Ltd., state in their annual report that the operations of the company during the past year have resulted in. a satisfactory profit. The cost of wool was considerably higher than in "the previous year, and it was feared that it would be difficult to obtain prices to cover the increased costs, but the good demand that exists for the company's products enabled the extra cost to be secured Of late the demand for worsted goods has been so great • that the company has not been able to execute the orders that were offered. This position should be rectified, and the Board has ordered two sets of carding engines, two combs, and the necessary spinning machines, and there will also be an expenditure on buildings. The profit and loss account closed for the previous year with the sum of £16,093 19s 3d, from which were deducted the dividend paid in November, 1927, amounting to £5722 163, and the interim dividend paid in January, 1928, amounting to £3815 4s, leaving £6556 19s 8d to the credit of the account. After the usual debit and credit entries and after allowance for depreciation (£5000), special account towards the cost of extensions nt MoFgiel (£6000), and addition to reserve (£'000), there remains a final .balance of £16518 t9s 3d. The directors recommend the' payment of a final dividend of 4 per cent, and a bonus of 2 per cent., which will absorb £5722 16s, and will make 10 per cent, for the year. After parent of this amount there will remain .€10,79(5 8s 8d to be oarried forward to the new account.

1OOV ** O Brought forward Net profit r .* 1925-26. £ 236,365 295,048 1926-27. £ 211,412 282,053 1927-28. £ 223,465 351,835 531,413 493,465 575,300 Staff fund 25,000 25,000 25,000 Premises • • 50,000 25,000 25,000 Staff bonus .. 50,000 25,000 51),000 Dividends — 25,000 Pref., 5 p.c. 25,000 25,000 Ord., 17 p.c. 170,000 170,000 255,000