COMPANY NEWS
Jacquard Textiles.—Annual dividend recommended is 5 per cent., payable December 8. ex December I.—(P.A.) Kauri Timber.—Final dividend recommended is 3 per cent., plus a bonus of 2 per cent. (8 per cent, for the year), ex December 20.—(P.A.)
Bounty to Courtaulds.—The Commonwealth Government has passed legislation authorising the payment of a bounty of fid per pound on continuous filament acetate rayon yarn produced in Australia. The bounty takes effect from November 1 and will operate for three years. A recommendation by the Tariff Board for protection for Courtaulds (Australia), Ltd., the sole Australian producer of this yarn, was recently placed before the Government. The company had asked for a bounty of 29d per lb. Bruce Wool Year.—The Bruce Woollen Manufacturing Company, Ltd., Dunedin, earned a net profit of £26,428 in the year ended September 19, an increase of £3587
over the previous year’s result. Depreciation took £4178 less at £16,721, but tax provision is unstated. Reserve appropriation has peen halved to £5OOO and dividends absorb £l2,Boo—the 5 3-5 per cent, preference taking. £2BOO and the 10 per cent, ordinary (8 per cent, last year) taking £lO,OOO. The carry-forward is £8628 higher at £27,534. Gross trading profit fell by £3835 to £95,346, and dividends from the subsidiary were £6OO lower at £ll4O. Last year’s bank overdraft of £24,104 has been replaced by a cash balance this year of £53,912. '•
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Bibliographic details
Press, Volume XC, Issue 27502, 9 November 1954, Page 15
Word Count
230COMPANY NEWS Press, Volume XC, Issue 27502, 9 November 1954, Page 15
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