WILLIAM CABLE HOLDINGS

Press, Volume LXXXIX, Issue 27096, 20 July 1953, Page 13

WILLIAM CABLE HOLDINGS

NET EARNINGS UP. BY £13,879

(New Zeeland Press Association) _ x WELLINGTON, July 19. ” et ta x-paid earnings of '52J ba . m 9 able Holdings. Ltd., and sub* sldiarics for the year ended March 31, 1953, were £99,810, against £85,931 the previous year. T< L-. t s is sum 18 added £6538 overprovided for taxation the previous year, making consolidated net tax-paid addition to unappropriated, earnings during the year £106,348 (£89,960). Accumulated earnings at April 1, 1952, In general reserve, dividend equalisation reserve, and appropriation reserve were £169,242 (£209'962)’ bringlng 016 total to £275,590

Unchanged dividends of 7 per cent, oraVd. Preference take £49,523 (£40,720 last year). During the year Paid-up» capital was raised from £547,495 to £853.770 by the issue of 31,250 ordina£y _ s “2 res to ac QUire the ordinary shares Jj- Butler ’ L td., and by the 1952 issue of 275,025 ordinary shares. Accumulated earnings retained in the business and carried forward at March 31 are £226.067 (£169,242). This is disposed of in the accounts as follows:—holding company general reserves, £78,027; dividend equalisation reserves, £4500; . unappropriated profits, £35,027; subsidiaries general reserves, £4942; dividend equalisation reserves, £400; and unappropriated profits. £99,571.

Shareholders’ funds are shown at £1.239,000 (£845.000), of which £854,000 (£547.000) is represented by capital and £274.000 (£248,000) by reserves. Minority interests are £14,000 (£50,000).

Working capital is £316.000 (£59,000). Investments are £96,000 (£152,000), and fixed assets are £827,000 (£634,000) STOCK_SALES RANGIORA MARKET An almost complete clearance was effected at a sale of 50 head of dairy cattle at the Rangiora weekly market on Friday. The top price was £4l for a third calver black and white cow. A yearling bull realised £25. Other prices were: yearling heifers from £l4 10s to £l9 10s, spring calving heifers £3O 10s to £3B, spring calvers £23 to £4l.