COMPANY NEWS J. J. NIVEN’S PROSPECTS

Press, Volume XC, Issue 27442, 31 August 1954, Page 15

COMPANY NEWS J. J. NIVEN’S PROSPECTS

“This company is in a sufficiently ’ strong position to justify the view ft i will continue to prosper unless and until the whole economy of the country is seriously disrupted either by international troubles, or by a serious fall in the national income from primary products,” said the chairman, Mr G. G. Gibbes Watson, at the annual meeting of Jas. J. Niven and Company, Ltd. “The whole present prosperity of New ■ Zealand arises from the high return obtained for a number of years from our primary products. Should there be any major diminution of these returns, the results would be serious for the national economy, and would necessarily affect the earning power of companies such “as ours—and indeed be serious for every citK 1 zen in the Dominion. “If, however the present high national income is not adversely affected by such matters as the change from the bulkpurchase system to free marketing of primary products or the impact of the attack by margarine on our butter market, or by a major worsening of the international situation, then shareholders in this company may reasonably expect a continuation of favourable trading results. Shareholders will not, however, expect that the present rate per centum of dividend Will be maintained on the augmented capital.” Current assets were almost four times the amount of current liabilities, Mr Watson said. ‘•The accounts reveal both a very successful year’s trading and also the very strong financial structure of the company,” he said. “The gross profit for the year exceeds that of the previous year by approximately £29,500, while the net profit is up by approximately £30,000. The total assets of the company exceed £1,000,000. The reserves as at balance date after the additions set out in the report to shareholders amounted to £487,193, which means that with an Issued capital of £300,000, total shareholders’ funds invested in the business amount to £787,193.” Milburn Lime.—Final dividend recommended is lOd a share, ex September 13. (P.A.) Woolworths, Victoria.—A half-yearly preference dividend of 3J per cent, will be ex on September 18.—(P.A.) K.P. N.Z. Drug Company.—lnterim dividend of 4J per cent, will be ex on September .I.—(P*.A.) N.Z. Farmers’ Co-op. Dividends.—Annual dividends to be recommended to the annual meeting of the New Zealand Farmers’ Co-operative Association of Canterbury, Ltd., on October 6, are as follows:—First preference shares, 6 J per cent.; “A,” "B” preferences, and ordinary shares, each 6 per cent'. These dividends are unchanged. Auckland Farmers* Freezing.—This company reports a further rise in net profit for the year to June 30, and at £23.861 (up £2147) is the highest since £28,916 was earned in 1939-40. The latest result was reached after providing unstated amounts for taxation and depreciation. Dividend is steady at 51 per cent, requiring £15,143, and the balance of current profit IS carried forward, giving a floating balance of £29.673 against £20,955 brought in. Gross earnings after depreciation totalled £170.361, compared with £160,375 last year. General expenses rose from £138,661 to £146,500. In the balancesheet. creditors are down by £36,387, but debtors have risen by £91,371. Stocks have been reduced by £125.445 to £238,044. while the company’s bank and cash position is £75,136 better at £120.776. -(P.A.) Notifiable Diseases.-— There were 20 more cases of streptococcal sore throat in Christchurch last week, as well as nine of tuberculosis, three of bacillary dysentery, two of food poisoning, and one df -eclampsia. There was one death from tuberculosis. In the Greymouth district there were 11 more cases of bacillary dysentery. _