COMPANY NEWS AUCKLAND LAUNDRY
Further Increase In Profit
(New Zealand Press Association) AUCKLAND, April 19. Net profit of Auckland Laundry and Dry Cleaners, Ltd., increased sharply by £1676, or 34 per cent., to £6601 in the year ended January 31. The result was struck after providing £l3OO more for taxation at £6600 and £360 more for ordinary depreciation at £6912 and £329 less for special depreciation at £3013. Last year’s net earnings, which were the highest for 17 years, rose by 46.3 per cent, to £4925.
As was previously announced, the dividend has been raised from 5 per cent, to 6 per cent., requiring £4020. After deducting £B9, the company’s share of Commercial Dyers, Ltd., loss incurred during establishment, and writing off £2OOO for laundry rights from the net profit, reducing them to £2OOO, the net profit exceeds these appropriations by £492, and the carry-forward is increased to £5659.
During the year gross trading revenue increased by £lB,lBO to £155,817, but this was largely offset by the rise of £13,990 to £122,278 in operating expenses, and the gross profit was only £4190 higher at £33,539. Other income (including a dividend of £7OO from the associated company, Commercial Dyers, Ltd.) fell by £244 to £8333. General expenses, apart from ordinary and special depreciation and taxation expanded by £939 to £18,746.
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Bibliographic details
Press, Volume XCV, Issue 28257, 20 April 1957, Page 13
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219COMPANY NEWS AUCKLAND LAUNDRY Press, Volume XCV, Issue 28257, 20 April 1957, Page 13
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