MASON BROS. YEAR

Press, Volume XCVI, Issue 28321, 5 July 1957, Page 15

MASON BROS. YEAR

(New Zealand Press Association) AUCKLAND, July 4. Consolidated net profit of Mason Brothers, Ltd., Auckland, > steelworkers and engineers, declined by £12,792 to £28,246 in the year ended March 31.

The consolidated net profit was struck after tax provision of £27.972 (a decrease of £16,778 from 1956) and depreciation of £24,139 (an increase of £3649).

Consolidated gross trading profit declined by £35,381 to £235,178, while other income was £1899 higher at £5132 expense, excluding tax and depreciation were £7561 lower at £159,953. Net profit of the parent company declined by £11,804 to £29.234 after taxation of £12,200 (a decrease of £19,500) and depreciation of £19,347 (an increase of £2784). Gross trading profit fell by £62.523 to £127,011. A surplus of £29,750, arising from the revaluation of investments has been transferred to capital reserve increasing it to £57,875. Ordinary dividend payable by the parent company, has been reduced from 124 per cent, to 10 per cent., requiring £19,772. The 5 per cent, preference charge absorbs £3750. After writing back surplus tax of £227, the carry-forward is increased from £59,895 to £95,834.

N.Z; Cement Call.—The final instalment of 10s a share is payable on July 15.—(P.A.)

Taupo Totara Timber.—Recommended dividend is 2s a 10s share, payable on August 16, ex August 5.

Hawkins Holdings.—Recommended final dividend is 5 per cent., making 10 per cent, (unchanged) for the year. The dividend is payable on July 29.—(P.A.)

Taringamutu Totara.—A meeting of shareholders of Taringamutu Totara Sawmills. Ltd., will be held in Wellington on July 17 to consider a report from the directors and any recommendations that may be made concerning the disposal of the assets of the company. Dalgetys.—Dalgety and Company Ltd., reports that the Court in London has approved its capital reorganisation plans. The company’s A” and “B” ordinary shares will now be converted into a single class of ordinary shares paid to £l. New Wellington Factory.—The new A. C. Hatrick (N.Z.), Ltd., £200,000 factory for the manufacture of synthetic resins and paint driers was opened at Tawa Flat, Wellington, on Wednesday, by the Australian Trade Commissioner to New Zealand, Mr R. Hudspeth. The company, which is closely associated with Reichhold Chemicals, Incorporated (Aus.), Ltd., was formed in 1944.

U.S. Chemical Firm in Australia.— The Union Carbide Corporation of the United States, one of the biggest companies in the world, will enter the chemical production field in Australia. It will do this through a merger with Timbrol, Ltd., a Sydney chemical company, the general manager of Timbrol (Mr J. G. Peake) announced last night. He said that Union Carbide had previously operated in Australia through a ‘group of subsidiaries, including Eveready (Aust.) Pty., Ltd.—(N.Z.P.A., Sydney, July 4.)

IMPORTS UP 9 PER CENT.

Figures For Last Six Months

(New Zealand Press Association) WELLINGTON, July 4. New Zealand’s imports for the first six months of 1957 showed a 9 per cent, increase on the 1956 imports for the same period. According to figures released today by the Customs Department, the value of goods imported in the first six months of 1957 totalled £137,949,000. This compares with £126,564,000 in 1956, and with £137,721,000 in 1955.

The figures for each month this year are as follows: ' January, £23,900,000; February £21.067,000; March, £19,673,000April, £24,154.000; May £24,551,000; June. £24,604,000.