Company News GEAR MEAT PROFIT
Fall On Last Year’s Figure
<Ntw Zealand Pres, Association) WELLINGTON. January 15. Net profit of the Gear Meat Company. Ltd., Wellington, for the year to October 3L was £23,667 against £33,439 the pre* vious year. Profit is reached after provision of £52,686 (£47,842 in 1957) for depreciation and an undisclosed amount for taxation. Trading profit after tax but before depreciation, was £65,839 ( £69,582). Income from investments was £10,514 (£11,699). Dividend, reduced from 12} to 10 per cent., takes £23,000 (£28.750). Carry-forward is £22,383 (£21,716). Reserves amount to £176,141 (£144,873) and in addition there are provisions for building and plant renewals totalling £85,000 (£115,000). A sum of £30,000 has been transferred to the general reserve from the building and plant renewal provision, being in the opinion of the directors; in excess of requirements. Current assets are £854,139 (£1,026,466) and current liabilities are £856,801 (£1,118,732).
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Bibliographic details
Press, Volume XCVIII, Issue 28795, 16 January 1959, Page 13
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148Company News GEAR MEAT PROFIT Press, Volume XCVIII, Issue 28795, 16 January 1959, Page 13
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