COMPANY NEWS

Press, Volume LXXXV, Issue 25935, 15 October 1949, Page 8

COMPANY NEWS

Whitcombe and Tombs.—Whitcombe and Tombs’ balance-sheet became available to

shareholders during the week. Net profit for the year was £41.383, as against £25,640 for the previous year. Total ordinary dividends for the year amount to 7d a 10s share. With the ratification at the annual meeting of a proposed transfer of £15,000, the general reserve will reach £60,000. After payments of dividends the carry-forward will amount to £21.857.

National Bank of Australasia.—The National Bank of Australasia is paying a final dividend of 3.5 per cent., confirming the yearly rate of 7 per cent., against 6.5 per cent, last year. Net profit, subject to audit, for the year ended September 30, is £540,133, showing a small increase on last year. This was the second year of the merger with the Queensland National Bank. Profit has improved each year from £282,470 in 1943, and the dividend has been gradually raised from 5 per cent.

Drug Houses’ Earnings.—Drug Houses of Australia. Ltd., and subsidiaries earned a consolidated profit of £246,841, a decrease of £9598, for th*e year to June 30. Tax provision was £164,116 (decrease £10.292), and depreciation £81,905 (increase £4253). The parent company received dividends of £240.141, an increase of £31.047. Its profit increased £36,150 to £242,108. Ordinary dividend is again 7 per cent., and with the 6 per cent, preference dividend requires £237,350.

Henry Berry Affairs.—Henry Berry and Company (A'asia), Ltd., has removed its capital deficiency account of £219.472 by a revaluation of assets and the sale of a half interest in its New Zealand business at a substantial profit. Revaluation of freehold properties added £124,043 to Ihe book value of assets. Surplus realised on the sale of investments was £64,535. Shares still held in Henry Berry. Ltd. (N.Z.), were written up by £55,000. These items total £243.578. and after removing the deficiency the balance has been added to reserves and retained profits. Trading profits for the year to June 30 are lower —the parent company’s by £6908 at £49.630. and consolidated by £12.039 at £58,234. The New Zealand company.■ Henry Berry. Ltd., formerly a whollyowned subsidiary of Henry Berry and

Co. (A'asia), Ltd., was converted into a public company earlier this year by the sale to the public of 100,000 fully-paid ordinary shares of 10s at 21s a ‘share. Official listing by the Stock Exchange Association of New Zealand was granted in May.