COMPANY NEWS

Press, Volume LXXXIX, Issue 27148, 18 September 1953, Page 13

COMPANY NEWS

MALING AND COMPANY RECORD TURNOVER The accounts of Maling and Company. Ltd., Christchurch, for the year ended July 31. show that a net profit of £14,686 remains after writing-off 3 per cent, and ordinary depreciation of £3478. This profit is an increase of £1396 on that of 1962. of

when the accounts covered •« period .of only 11 months. It is noted in the report that the turnover has again increased and establishes a record for the company. With the addition of £2452 brought forward from last year, £17,118 is available. Interim dvidends accounted for £1457. and taxation for £7678, leaving a balance of £7983. Final dividends of 2} per cent, on preference shares and 71 per cent, on ordinary shares absorb £2371, and transfer to general reserve £2soo,’leaving a carryforward of £3112. The gross profit was £50,130, against £41,212 in 1952. Expenses absorbed £30,908 (£23,989 in 1952). Current liabilities are shown at £82.001 (£88.808). mortgage £14,000 (£11,000),* capital £58,283 (same), capital reduction reserve £lO,OOO (Same); general reserve £7500 (£5000), profit ana loss appropriation, £3112 (£2497). On the assets side sundry debtors account for £21,260 (£22,053), stocks £71,425 (£76,582), owing by subsidiary £18,324 (£24.424). investments £10,005 (same), fixed assets £53,849 (£42,164). Auckland Meat.—This company announces a net tax-paid profit of £18,127 and a final dividend of 6 per cent., mak--ing 10 per cent, for the year.—(P.A.) Equitable Building (WelHngton)i-—An interim dividend of 4 per cent, is being paid on September 30.—(P.A.) Maple Holdings.—lnterim dividends announced are 4 per cent, on ordinary shares and 21 per cent, on preference shares.—(P. A.)

Peters Ice Cream (Victoria)—A final dividend of 7 per cent. (12 per cent, for the year) is payable on October 27. (P.A.)

Pukemiro Collieries.— A dividend of 7 per cent, has been declared, payable on October 22.—(P.A.) Australian Paper Sales Drop.—The total value of sales by Australian Paper Manufacturers, Ltd.,, dropped by £6,250,000 to £12,500,000 in the year to June 30. The directors report, however, that sales and profits have been satisfactory in the past few months. The year, they said, had been one of the most difficult in the company’s history. Tonnage sold was only 96,143, compared with 154,662, and 147,892 in 1952 and 1951 respectively. Production was cut back frftm 160,037 tons to 102,317 tons. This caused higher production costs, while at the same time the company had a big fall in the value of its raw material stocks. The expansion programme had to be reviewed and deferred, but some projects have been resumed in the past few months. Consolidated net profit was £492,199 lower at £552,179. Ordinary dividend of 4 per cent. ( .EF£ v l ousl y 7i P er cent -> requires £735,456, and underwriting commission preference, issue a further £44,844. This reduces carry-forward by nearly £230,000 to £459.000. During the year shareholders paid up a further £4,000,000,. lifting paid capital to £16,500,000, and shareholders* funds to £19,500,000. Fixed assets increased by nearly £3.250,000 to £26,500,000, against which £5,500,000 had been provided for depreciation and obsolescence.

COMPANY REGISTRATIONS Registration of the following companies is notified in the current issue of the ‘Mercanitle Gazette”:— Golden Crumpet (Canterbury), Ltd.: Private company, August 4; 250 Stanmore road. Capital: £5OOO in £1 shares. Subscribers: Wanganui—A. J. Templeton 150. Christchurch—C. H., R. H., and T e *J}Pleton 550 each, Z. M. Forster 1100, L. G.~- Vai lance 100. Sydney—R. J. Hastings 2449. Tasmania—Fitzgerald Enterprises Pty., Ltd. 1. Objects: Caterers, bakers, manufacturers of crumpets, etc., and incidental. McKendry Products. Ltd.: Private company, September 2; 162 Cashel street. Capital: £2500 in £1 shares. Subscribers: Christchurch—M. J. and W. C. McKendry 152 each, H. R. Binnie 100, J. M. Lawler 100, M. J. and W. C. McKendry 1996. Objects: manufacturers of articles in precast concrete pumice plaster, and incidental.

Walker Packaged Homes (Canterbury). Ltd.: private company, September 4; 309 Cranford street. Capital: £lOO in £1 shares. Subscribers: Christchurch—G. W. and M. E. Walker 50 each. Objects: dealers in houses, buildings, all types of construction prefabricated, precut, etc., and incidental.

Deans Estate, Ltd.: private company, September 3; 30 Kahu road. Capital: £6400 in £1 shares. Subscribers: Riccarton—John Deans. Homebush—James Deans. Waddington—William Deans. Darfield—Douglas Deans. Masterton—C. Deans. Christchurch—S. M. Deans, J. and J. Deans jointly. Homebush—Jas. Deans 900 each. Objects: to acquire and take over the mineral coal and other rights and leases granted in respect thereof now owned by the administrators of the estate of John Deans, late of Riccarton, and incidental. Doors (South Island), Ltd.: private company, September 4; 19 Ottawa road. Capital: £3OOO in £1 shares. Subscribers: Christchurch—E. Betts 1300, B. E. Mann 1200, A. E. Betts 500. Objects: builders, joiners, and incidental. Doak (Alan), Ltd.: private company, September 4; Wakanui Rural, Ashburton. Capital: £30,000 in £1 shares. Subscribers: Wakanui—A. Doak 29,900, M. Doak 100. Objects: farming and incidental.

Century Homes, Ltd.: private company September 4; corner Weston road and Nancy avenue. Capital: £6OO in £1 shares. Subscribers: Christchurch Paramount Building Company, Ltd., 500, Belfast Timbers, Ltd., 100. Objects: builders, contractors, and incidental. Durham Finance Corporation, Ltd.: private company. September 7; 172 Manchester street. Capital: £2OOO in £1 shares. Subscribers: Christchurch—J. M. Hargreaves 250, T. G. Harty 1750. Objects: finance company and incidental. Wakanui Farm, Ltd.: private company, September 8. Capital: £24,465 in £1 shares. Subscribers: Ashburton—A. Amos 20,651, *R. A. and F. J. Amos 1907 each. Objects: farming and incidental. Buller Development Company, Ltd.: public company, July 31; 60 Palmerston street. Westport. Capital: £lO,OOO in £1 shares. Subscribers: Westport—J. Hunter, H. Bennett, C. M. Robertson. H. J. Hartley, W. L. Pettigrew, J. B. Hughes, E. E. O'Connor. F. T. Powick, W. E. L. Gay. Objects: land development and incidental. Increase of Capital Saunders (R.W.), Ltd.:'Capital increased from £lO,OOO to £15,000 (Christchurch). Mann (P. F.), Ltd.: capital increased from £lO,OOO to £20,000. Mackay (R. J.), Ltd..: capital increased from £2OOO to £4OOO. a t Modern Fashions, Ltd.: capital increased from £5OOO to £7OOO.