Company News BRITISH TOBACCO YEAR

Press, Volume XCVI, Issue 28448, 30 November 1957, Page 18

Company News BRITISH TOBACCO YEAR

Profit Up £125,723

(N.Z. Press Association —Copyright) MELBOURNE, November 29.

British Tobacco Company (Australia), Ltd. (the parent company only) reports a profit for the year to October 31 of £1,589,434, against £1,463,711 in 1955-56. Dividend is held at 10 per cent, on ordinary shares. The consolidated balance sheet of the company will be published early in the New Year. Directors declared yesterday a final dividend of 2 per cent, in respect of the year ended October 31, making 10 per cent, (un-

changed) and an interim of 2 per cent, in respect of the year ending October 31, 1958, on the issued ordinary and B ordinary stock. Both these dividends will be paid on January 14, 1958. The final dividend is payable to both the holders of old stock and the holders of new stock. Transfers will be received at either the Sydney or Melbourne office of the company up to 5 p.m. on December 12. After payment of the final dividend of 2 per cent, a balance of £92,510 will be carried forward, against £60,077 brought in.

McLeod Brothers’ Profit Steady

McLeod Brothers, Ltd., soap and cosmetics manufacturers, Dunedin, earned a net profit of £20.247 for the year to September 30. The previous year’s profit was £20,186. Profit is reached after provision of £14.498 (£11,948) for depreciation and £26.567 (£26,992) for taxation. A sum of £33, capital profit on sale of plant, is added to the net profit. Steady dividend of 9 1-6 per cent, takes £15,377.

Transfer to general reserve is £4OOO (£3000). Carry-forward is £20.886 (£19,983).

The directors say that sales of the company’s products in New Zealand continue to expand and exports to the United Kingdom and Australia have been increased. Expansion is planned. Brents.—Net profit of Brents. Ltd., Rotorua, tourist house proprietors, increased by £637 to £6393 in the year ended September 30, after tax provision of £6767 (an increase of £642 from 1956), and depreciation of £9877 (a decrease of £128). The unchanged dividend of 8 per cent, requires £4BOO, leaving £1593 of the net profit to increase the carry-for-ward to £10.940 Gross receipts expanded by £26,635 to £225.738, while expenses, apart, from taxation and depreciation, were £2484 higher at £202.701.—(P.A.)

Hallins Hotels.—The recent new issue of 100,000 ordinary £1 shares in Ballins Hotels. Ltd., has been fully subscribed. The company advises that in making the allocation, first preference was given to applications marie by ordinary shareholders of Ballins Breweries (N.Z.), Ltd. Applications from other investors were reduced.

BALLINS BREWERIES RECORD YEAR

Profit Up 31 Per Cent.

Net tax-paid profit of Ballins Breweries (N.Z.), Ltd., for the year ended September 30, 1957, rose £11.220. or 31 per cent., to a record £46.855. The result is reached after provision of £27,587 'up £1324) for depreciation and £41.500 (up £7000) for taxation. It compares with a consolidated net profit (stated for the first time) of £51.226, reached after provision of £32,633 for depreciation and £49.738 for taxation. Ordinary dividend, as announced earlier, has been raised from 7 per cent, to 8 per cent. This requires £28.000, and the 5 per cent, preference dividend takes £3750. With over-provided tax of £1685, £16.790 is left to be added to carry-forward, bringing it to £53,508. The parent company’s balancesheet shows paid capital steady at £425.000. The main change in the capital reserves, which now total £246,398, is the appearance of anew item, revaluation of assets (£139.840). Shareholders’ funds rose £158.166 to £750.003 (compared with £782.894 in the consolidated balance-sheet).

Stock fell £14.929 to £176.217. sundry debtors rose £5870 to £89.664 and total current assets fell £7549 to £275.194. Sundry creditors rose £21.135 to £67.264. overdraft fell £15,812 to £166.327. and total current liabilities rose £16.923 to £297.466. Investments and advances are £23.975 higher at £166,209. and fixed assets rose £ 158,663 to £606,066