COMPANY NEWS

Press, Volume LXXXV, Issue 25934, 14 October 1949, Page 5

COMPANY NEWS

SIMPSON AND WILLIAMS’ ACCOUNTS

INCREASE IN NET PROFIT An increase in net profits from £3868 in 1948 to £4561 is disclosed in the accounts of Simpson and. Williams, Ltd., for the year ended August 31. Dividend recommended is 7*2 per cent.—the same rate as last year—plus a bonus of l’/ 2 per cent, on 16,000 shares fully paid for the year and the same rate on 4000 shares in proportion to the amounts paid up on the same, from time to time. With the carry-over of £849 from last year, the amount available for distribution is £5410. and this it is recommended should be appropriated as follows:—staff benevolent fund, £250; dividend equalisation, £1000: general reserve, £1600: dividends, £1721; carry-forward, £839. Taxation at £6428 represens an increase of £1046. The gross trading profit for the year was £46,777—£42,429 in 1948—and wages, general expenses and depreciation absorbed £36,598 against £34,176 in 1943, leaving a trading profit of £10,179 (£8253 in 1948). Tiie reserve accounts are listed at £24.212, last year’s total being £21,612. Assets total £83.419—£76.314 last year—and include £5959 irT cash, against £284 in 1948. Stocks at £25.164 show a slight decrease on last year’s figure. The directors report that the printing department has been working to capacity during the last year. The increased capital has enabled new additional machinery to be purchased, and this is installed and working. Wages again showed an increase, and the effects of the new award which came into force in June of this year would be felt fully during the current financial year.

SELFRIDGES’ YEAR REVIEWED A fall of £4585 to £48,644 in the net profit of Selfridges (A’asia.), Ltd.. Sydney, is shown in the accounts for the year ! ended July 31. The result is reached after providing £33.000 for taxation, against £40,000 in the previous year, when earnings were a record. Dividend is mainI tained at 10 per cent, (final 6 per cent.). I requiring £28.500. and £82,072 is carried forward, against £61,928 brought in. ! The trading profit declined by £11.970 to £76.609. The directors state that, . although turnover was a record, the lower permitted rate of gross profit, the in- ! crease in expenses and effects of the coal ; strike resulted in tlie lower net profit I Dividends received during the year from the subsidiary companies in New Zealand i and Western Australia rose from £4649 to I £5035. 1 Selfridges (N.Z.). Ltd., earned a net proI fit of £4281 for the year ended January l 31. against £5351 in the previous year. ' and paid an unchanged dividend of 2J per i cent., requiring £3964. The net profit of Selfridges 'W.A.I. Ltd for the vear ended January 31, mI creased by £lll2 to £7457. A steady divii dend of 6 per cent, was paid, absorbing ! £5929. ’ Woolworths (South Africa).—This comnanv is paying an interim dividend of 10 Iper'cent.. payable about December 12 to I holders of ordinary and class ’’A ordinary shares. Books will close from Octo- ‘ her 24 to November 12—ex dividend, Octoj '(* Dividend.—The D.I.C. advises an annual dividend of 10 per cent, on ordinary (including bonus) shares and a final dividend of 21 per cent, on preferenceex dividend. October 24. (N.Z.P.A.) COMPANY RECISTRATIONS Registration of the following companies is notified in the current issue of the “Mercantile Gazette”:— Apex Tyre Retreading Company, Ltd. Private company. September 28; 85 Victoria street. Capital. £4OOO in £1 shares. Subscribers: Christchurch —P. Kirby 1334, G. L. Border 1333, G. G. Cox 1333. Objects: retreaders, recappers, servicing tyres and incidental. Marine Fish Supply, Ltd. Private company, September 30; 341 Stanmore road. Capital: £250 in £1 shares. Subscribers: Christchurch—S. Kerrison 249, M. Kerrison 1. Objects: fishmongers and incidental. Emu Wools (N.Z.). Ltd. Private company, October 4; 81-83 Lichfield street. Capital: £lOO in £1 shares. Subscribers: London—H. A. Walford 1, Emu Wool Industries, Ltd. 99. Objects: wool merchants and incidental. Conway General Store, Ltd. Private company, October 5: 137 Hereford street, j Capital: £5OO in £1 shares. Subscribers: i Hundalee—M. W. Broomhall 499. D. G. ‘ Broomhall 1. Objects: grocers and inciIncrease of Capital Canterbury Co-operative Egg Producers’ Association. Ltd. Capital increased from £15,000 to £50,000.

Buyers. Sellers. £ s. d. £ s. d. Andrews & Bea ven, pref. .. 13 9 — Ass. Mot. Pet., pf. 1 11 9 — Belvedere Maison 0 15 0 — British Standard Portland Cement — 0 4 9 Deaths (Is pd.. 19s deposit) 1 17 0 2 0 0 Black and White Cabs • • 0 2 6 — Canty. Seed .. 15 6 — Korma Text., ord. 0 12 6 — Lane, Walker, Rod'kin . . — 3 2 0 Mac., Caley, Phoenix .. .. 1 13 0 — Matea Forests .. 0 2 0 0 2 6 Mt. Cook Tours. c.d. .. 0 11 0 0 13 0 Mac., Caley, Phoenix. contr. .. — 0 116 National Tobacco .. — 18 6 N.Z. Fisheries .. — 0 14 U Scales “C” (pref.) 0 7 0 0 8 6 Victoria Mansions 12 0 — Whakatane Board Mills .. .. 0 18 3 0 18 6