INNES INDUSTRIES’ RECORD YEAR
(New Zealand Press Association) AUCKLAND. October 3. Record consolidated net earnings of £60.111 are reported by Innes Industries, Ltd., for the year August 31, the company s fiftieth y The company is marking the anniversary by adding a 2 per cent, jubilee bonus to the ordinary dividend of 8 per cent, and proposes to make a one for one bonus issue of ordinary £1 shares based on holdings as at October 18. A further 50,000 ordinary £1 shares will be dealt with at a later date. ’ The latest net profit shows an increase of £lB.llB over last years.
Pukemiro Collieries.—Net profit of Pukemiro Collieries, Ltd., for the year to August 31, rose from £13,291 to £22,760 Provision for taxation was £28,830, an increase of £12,832. Provision for depreciation was £9049. Last year is was not stated. Dividend, maintained at 10 per cent., takes £lO,OOO. and carry-forward is increased by £12.760 to £58.904. Investments in shares include at cost £12,463 in the New Zealand Insurance Compny, Ltd., £10,408 in the South British Insurance Company. Ltd., and £16,403 in Waikato Carbonisation, Ltd.—(P.A.)
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Press, Volume XCVI, Issue 28399, 4 October 1957, Page 17
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184INNES INDUSTRIES’ RECORD YEAR Press, Volume XCVI, Issue 28399, 4 October 1957, Page 17
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