KAURI TIMBER PROFIT

Press, Volume LXXXIV, Issue 25677, 14 December 1948, Page 6

KAURI TIMBER PROFIT

BEST FOR TEN YEARS Net profit for the Kauri Timber Co., Ltd- Melbourne, for the year ended August 31 was £49,419, according to a preliminary statement. The result is £10,776 higher than last year, and the highest since 1938, when net earnings reached £50,283. A bonus of 1J per cent, is added to the usual dividend of 5 per cent., the total distribution requiring £48,750. Results for three years are:—

Carried forward £21,151 £22,294 £22,963 .The consolidated accounts of the company and its subsidairies show a sharp increase in the net profit from £101,742 to £133,408. Felt and Textiles, South Africa.—Net profit of Felt and Textiles of South Africa. Ltd., for the year ended June 30 was £28,184 lower at £45,972. No ordinary dividend' is recommended, the payment last year being 8 per cent. Preference dividend of 5J per cent, requires £13,200. Taubmans, Ltd., N.S.W.— Taubmans, Ltd., Nev/ South Wales, earned a record net profit of £135,224 for the year ended September 30. an increase of £35,066. The result is reached after providing £196 more for depreciation at £27,332. Ordinary dividend, increased from 15 to 17J per cent- is the highest rate for 10 years, and requires £96,390. The usual preference dividend of 5 per cent, absorb* £5OOO. The consolidated net profit of the company and its subsidiaries, earned on increased capital, shows an increase of £43,489 to £207,231. Capital was increased by £162,572 during the year.

August 31 1946. 1947. 1948. £ £ £ Brought in .. 20,695 21.151 22.294 Net profit .. 45,956 38,643 49,419 £66,651 £59,794 £71,713 Div., 5 p.c. .. 37,500 37,500 37,500 Bonus. 1J p.c. .. — — 11.250 Off goodwill .. 8,000 — —