A.W.A. PROFIT UP 21 PER CENT.

Press, Volume XCVI, Issue 28457, 11 December 1957, Page 19

A.W.A. PROFIT UP 21 PER CENT.

Net profit of Amalgamated Wireless (A’asia.), Ltd., at £343,498 for the year ended June 30, shows an increase of £59,522, or 20.9 per cent. The previous year’s profit rose £20,133. The latest result is after depreciaiton £208,296 (up £43,910) and undisclosed tax. Earning rate is 15.4 per cent, on capital doubled by a 1-for-l bonus issue. This compares with 25.5 per cent, earned on lower capital last year. Dividend of 9 per cent, requires £200,328. Last year’s dividend amounted to 16 per cent.—equivalent to 8 per cent, on present capital. It absorbed £178,070. Reserve gains £50,000 (nil last year), leaving £93,170 to raise carry forward to £498,773. A surplus of £57,000 from sale of assets is credited to television reserve. Total income at £B.lm shows an increase of £ 2.37 m. Expenses rose £ 2.31 m to £7.Bm.

Leyland Investment Prospects

(New Zealand Press Association) AUCKLAND, December 10.

A dividend of 5 per cent, on the increased capital is assured if Leyland Investment, Ltd., (the reconstructed Leyland-O’Brien Timber Company, Ltd.) receives dividends at the present rate, the chairman (Mr J. M. Elliffe) told the annual meeting today. On balance-sheet valuation, each of the new 5s shares was represented by assets w valued at 8s Bd. he said.

The meeting approved the reconstruction proposals involving an increase in capital from £45.000 to £120.000 in 5s shares, to be created from the reserves. Four new shares will be given for each old share of 7s 6d. These shares will later be converted into stock units. Mr Elliffe said than an investment company was a continuing entity and the market value of the portfolio at any particular date was of no special significance.