CYCLONE FENCE AND GATE

Press, Volume XCIX, Issue 29246, 2 July 1960, Page 16

CYCLONE FENCE AND GATE

Net Profit Up By ' £6361

Cyclone Fence and Gate Company Limited profit rose £6361, or 33.7 per cent, to £25,232 in the year to March 31. This was reached after depreciation, down £2037 at £15,183, and taxation, £9531 higher at £26,672. Gross profit from trading account, rent and depreciation recovered was £187,870, against £ 164,095' last year. Dividends from companies, £1358 last year, fell to £7. Interest on mortgage was £l7, against £94 last year.

Salaries and administration charges at £116,846 were £7915 higher than last year. Interest on 5? per cent, registered unsecured convertible debentures was up £577 at £1438. Dividends, as announced earlier, are unchanged. The 5 per cent. , requirement is £2125 and the 8 per cent, ordinary dividend takes £12,000. General reserve receives a steady £5OOO. These appropriations total £ 19,125, and a furttier £lOO (nil last year) is required for- under-provided .tax. Profit'exceeds these amounts by £6007. and carry-forward is raised to £ 13,961. Shareholders’ funds, of which capital comprises £192,500, rose £ll,OOB to £280,993.

Current assets are £63,452 higher at £281,037. and current liabilities are £51,409 up at £ 179,277. Investments are £43,092 against £42,596 last year.

Value of land and buildings is £3968 higher at' £94,573, but value of plant, fittings and motor vehicle? are down £5139, making fixed assets £181,641, compared with £182,812 last year.