COMPANY NEWS

Press, Volume XCII, Issue 27705, 8 July 1955, Page 15

COMPANY NEWS

N.Z. FARMERS’ FERTILISER

RECORD PROFIT LAST YEAR •(New Zealand Press Association) AUCKLAND. July 6. Net profit of the New Zealand Farmers’ Fertiliser Company, Ltd., reached a peak of £129.669—£4190 above last year s figure—in the year ended May 31. This result continues the upward trend of the post-war years, which has been interrupted only once, in 1951. It was reached after setting aside £33.195 more for taxation, at £160,935, and £4901 less for special and ordinary depreciation, at £27,652. Ordinary dividend, steady at 8 per cent., but with a bonus of 2. per cent, added this year, takes £41,914. The 5J per cent, preference payment requires £8250. Ord-, inary dividend payment last year was, An amount of £85,000, against £47,877. last year, has been transferred to the revenue reserve, which also has been | strengthened by the addition of £2698 no; longer required in the taxation reserve, i Unappropriated profits have been re-! duced by £5495 to £48.931. Gross profit, lias risen by £60,479 to £688.634. and other revenue by £355 to £lB2l. Ex-| penses, including repairs, salaries, wages, rent and rates, show a fall of £4814 to. £325,999. DALGETY’S TO ESTABLISH, N.Z. BOARD OF ADVICE (New Zealand Press Association) WELLINGTON, July 7. I The board of directors of Dalgety and • Company has decided to establish a local > board of advice in New Zealand, the company announced today. Mr B. C. Ashwin, who retired recently from the position of Secretary of the Treasury, has been invited to serve on the board of advice. He will be joined by Mr H. D. Cooper, the company’s present New Zealand superintendent, when Mr Cooper retires on September 30. The company’s announcement states that the directors hone “that the establishment of this local board will identify the company even more closely with the life and interests of the Dominion, and will, assist in keening the company's directors i in London fully in touch with ail develop- ! ments which may lead to that end.” A.C.I. DIVIDEND RAISED TO 12! PER CENT. (N.Z. Press Association—Copyright) SYDNEY, July 7. Australian Consolidated Industries, Ltd., glass and plastic manufacturers, will pay a dividend of 12J per cent, for the year ended June 30. Dividend the previous year was 10 per cent. The company will pay a final dividend of 5 per cent., plus a bonus of 2| per cent. N.Z. SECURITIES IN BRITAIN PRICE OF NEW ISSUE NOW £97,155 (Special Correspondent N.Z.P.A.) LONDON, July 7. New Zealand’s handling of its monetary and economic affairs continues to inspire . investment confidence, says the “Financial Times,” commenting on the recent increase in the Dominion’s bank rate from 4 to 5 per cent., and the raising of the proportion of deposits which trading banks keep immobilised with the Reserve Bank. The journal says: “Since the New Zealand Government made its successful issue of 44 per cent, stock, 1970-73, at £97 10=, last month, steady business has developea in it, and today the stock becomes fully paid. “Trustees and others whose problem is to obtain the maximum present income in Government securities, are finding tnis stock an answer. At the current price of £97 15s, the interest yield is about £4 7s per cent., and the gross redemption yield to final maturity in 1973 would be a little under £4 9s per cent.” MINING Arahura Gold.— The return for the month ended June 30, was 230.000 yards treated in 494 hours, yielding 15690 z.— (P.A.) J. Gadsden, N.Z.— An interim preference dividend of 2i per cent., ex July 14, has been declared.—(P.A.)