COMPANY NEWS

Press, Volume XC, Issue 27463, 24 September 1954, Page 17

COMPANY NEWS

Bonus Issue.—Bonds Hosiery announce a bonus issue of 1 for 1. No further details.—(P.A.) . Putaruru Timber Yards.—An interim dividend of 3 per cent, on preference shares is payable October 1, ex September 29.—(P.A.) General industries.—lnterim dividend of 3J per cent, and 3 per cent, ordinary on October 22, ex October Couils,’ Somerville, Wilkie.—An ordinary dividend of 7 per cent, is recommended on old shares and at the same rate on new shares on the amount called up from time to time.—(P.A.) united Provisions, Ltd., Melbourne.— This company is paying annual dividends of 8 per cent, preference and 4 per cent, ordinary (6 per cent, last year) on October 29, ex October 14. Drug Houses of Australia, Ltd.—This company is recommening a final ordinary dividend of 4 per cent., payable on October 29, ex October 23. Total payment for the year to June 30 is 7J per cent., against 6 per cent. In 1952-53. Tekau Issue Oversubscribed.—The directors of Tekau Knitwear, Ltd., have advised the underwriters t ahtthe £50,000 5 per cent, cumulative preference issue is oversubscribed and that no applications from non-shareholders will be accepted. However, in terms of the prospectus, applications for the preference shares by existing ordinary shareholders will be received until 5 p.m. September 30. Electro. Zinc Pays 474 per cent —A» final dividend of Is 9d (Australian) is recommended by the Electrolytic Zinc Company of Australasia, Ltd., on both ordinary and preference shares. Total payment for the year ended June 30 is brought to 2s 4}d a 5s share, equal to 47J ffer cent, against 2s or 40 per cent, paid in 1952-53. Shares become ex dividend- on October

14. Cox Bros.—Cox Bros.. Ltd., claim deEartment store company, is reported to e negotiating for a property adjacent to its Adelaide store. A report from Adelaide says the company is planning to erect a five-storey building at the Rex Theatre site in Rundle street. Results of negotiations between Charles Birks and Co., Ltd., another Rundle street retailer, with Myers Emporium, Ltd., and with an unnamed Sydney retailer (reported to be David Jones, Ltd.), have not been announced yet. Stirling ■ Henry.—Net profit of Stirling Henry, Ltd., at £81,229, for the year ended June 30 is an increase of £20,941, or 35 per cent. The result is after tax, £43,000 (down £4000), and depreciation, £23,496 (up £1254). Dividend, again 10 per cent., on higher capital, takes £46.406. The preference charge is £2OOO. The dividend total is cleared by £32,823. Reserve gains £20,000 and carry-forward is £26,487 (up £12,823). Stocks at .June 30 were £871,112 (up £231.083). Sales showed a considerable Increase, directors state.

John Chambers Earnings.—John Chambers and Son, Ltd., engineers and importers, earned a net profit of £59,333 in the year ended June 30, an increase of £7408 over the previous year’s result. Tax provision was £5470 higher at £57,500, while depreciation amounted to £16,460, a decline of £1242. Gross trading profit rose by £32,787 to £585,098, while general expenses before tax and depreciation charges were £21,151 higher at £450,805. Dividends are steady at 7 per cent, ordinary and 5 per cent, preference, payment taking £33,900, and £20,000 is again placed to general reserve, leaving £5433 to raise the floating balance to £31,884.—(P.A.) Wairarapa Farmers.—Net profit of the Wrirarapa Farmers’ Co-operative Association for the year ended July 31 was £29,423, against £25,641 the previous year. Profit is struck after providing £27.000 (£30,000 last year) for taxation. Steady dividends of 6 per cent, preference and 6d a share ordinary take £17,989. A sum of £lO,OOO (£7000) is transferred to reserves. Carry-forward is £18,543 (£17,110). Gross profit was £217,405 (£207,918), and expenses were £148,699 (£136,790). The directors state ♦hat turnover and gross profit set n£w records. Actual gross profit of £222,862 was reduced to £217,424 by adjustment of stock values following removal of sales tax on some items. Shareholders’ funds are £363,532 (£357.099), Net asset backing of the £1 preference shares is 29s Bd, and of the 6d ordinary shares 20s 3d. MINING GREY RIVER DREDGE The Grey River Dredging Company, Ltd., report the return for the last cleanup period was 2830 z from 113,000 yards of material in 188 hours. August totals were 628.860 z, from 355.000 yards in 569| hours.