FELT AND TEXTILES

Press, Volume XCVII, Issue 28618, 21 June 1958, Page 16

FELT AND TEXTILES

Rise In Profit (New Zealand Press Association) WELLINGTON, June 20. Consolidated net profit of Felt and Textiles of New Zealand, Ltd., and subsidiaries for the year to March 31, 1958, was £111,147 (excluding outside shareholders proportion) against £84,790 the previous year. Profit is reached after provision for taxation at rates ruling at March 31, 1958. and tor depreciation at maximum rates allowed by the Commissioner of Inland Revenue. This information is given in a preliminary statement issued by the directors today. The directors recommend a payment of an ordinary dividend at the unchanged rate of 8 per cent., payable on August 7. CHAS BEGG Profit Increased (New Zeaiana Press Association) DUNEDIN, June 20. Net profit of Charles Begg and Company, Ltd., excluding subsidiaries for the year to March 31, 1958, was £36,279 (£33,016 last year) after providing for taxation £52,000 and depreciation £32,459 (£32,874). Dividends of 12$ per cent., take £21,250 (£18.750), which comprises the dividend on old issue ordinary shares (£17,500), on new issue ordinary shares (£2500), and on staff shares (£1250). Transfers to reserves are general £4OOO (£10,000) and dividend reserve £lO.OOO (£6250). Carry forward is £18.511 (£17,482).