Patons And Baldwins Better Year
Accounts of Patons and Baldwins (Aust.), Ltd., woollen yarn spinner, required no substantial write-down of stock for the year ended May 2. the annual report states. This was in contrast to 1957-58. when profit was struck after writing followed realisation of these stocks down stock bv £252.229 Improvement in the latest result was better than had seemed likely, directors state. Net profit rose from an adjusted £161.272 to £376.730 The increase of £215.458 partly offsets the previous year’s big fall of £349.798 Result was after larger provisions for tax, £254.300 (up £ 119.527). and depreciation £128.126 (up £38.482). Increased ordinary dividend of 8J per cent., including bonus per cent.. absorbs £127.500
With preference charge £37.500 the total requirement is £165.000. whirl the profit covers by £211,730.
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Press, Volume XCVIII, Issue 28963, 3 August 1959, Page 16
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130Patons And Baldwins Better Year Press, Volume XCVIII, Issue 28963, 3 August 1959, Page 16
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