COMPANY NEWS
NEW CAPITAL ISSUE BY DUNLOP AUSTRALIA Dunlop Rubber (Australia), Ltd., is issuing 1,265,500 £1 ordinary shares at a premium of 7s 6d, in the ratio of one to four held at February 29. Ordinary capital will be increased to £6,337,500, and the total capital, with £930,000 preference shares, will be £7,267,500. The company has announced an interim half-yearly dividend of ordinary shares of 3J per cent, (unchanged), and on preference shares of 5 per cent, (unchanged). HALLENSTEIN BROS. Hallenstein Brothers, Ltd., Dunedin, earned a net profit of £22,620 after tax provision of £26,965 for the six months ended December 31, 1951. The profit compares with £23,113 earned in the previous half year and £22,004 earned in the coresponding six months of 1950. Unchanged dividends of 2J per cent, on both preference and ordinary shares require £8375. Carry-forward is £72,188 against £57,405 brought in. In their report the directors state that turnover was larger than for the same period in 1950, but the net profit was adversely affected by “ever-increasing costs, particularly wages, and also by price control, which pegs profits while expenses soar.”
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Bibliographic details
Press, Volume LXXXVIII, Issue 26659, 19 February 1952, Page 9
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185COMPANY NEWS Press, Volume LXXXVIII, Issue 26659, 19 February 1952, Page 9
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