Record Profit For N.Z. Newspapers
(New Zealand Press Association) AUCKLAND, May 22. New Zealand Newspapers, Ltd., and its subsidiary companies earned a record net profit in the year to March 31 of £153,071. This compares with a record profit of £137,783 in 1956. Deduction of £6461, minority shareholders’ proportion of the profits of subsidiary companies, leaves a consolidated net profit of £146,610. Consolidated net profit (excluding minority shareholders’ profit) was £132,614 in 1956. This year’s result is reached after provision for taxation of £209,651 (compared with £172,294 in 1956). Provision for depreciation is £99,547, compared with £B7 573. A sum of £30,000 (last year £20,000) has been placed to machinery obsolescence reserve, and an unchanged sum of £lO,OOO to stock reserve. These appropriations increase revenue reserves to £176,233. As announced earlier, the dividend has been increased from a total of 6 per cent, to 7 per cent. Dividend payment takes a total of £69,708, leaving £76,902 of the consolidated net profit. Carry-forward is increased by thus sum to £354,144.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19570523.2.187
Bibliographic details
Press, Volume XCV, Issue 28284, 23 May 1957, Page 17
Word Count
169Record Profit For N.Z. Newspapers Press, Volume XCV, Issue 28284, 23 May 1957, Page 17
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.