L.W.R. Sales Improve

Press, Volume C, Issue 29421, 25 January 1961, Page 17

L.W.R. Sales Improve

Directors of Lane. Walker, Rudkin Industries, Ltd., Christchurch, report that the return of sales of the first half of the financial year, together with business booked for the remainder of the year, shows a very satisfactory increase. The directors feel that on present indications it should be possible to maintain the dividend rate of 10 per cent, on the increased capital of the company. An extraordinary genera! meeting will be held on February 6 for the purpose of giving effect to the one-for-five scrip issue. A steady interim dividend of 4 per cent, is payable on March 6. C.F.M. Canterbury Frozen Meat Company, Ltd., shares will be ex dividend on February 1. ex bonus issue on February 15. Davies Co-op.—Davies Co-op. and Co., Ltd., Melbourne, cotton spinner and weaver, did not make sufficient profit in the six months to December 31 to justify payment of an interim dividend, directors report. The last dividend was 12J per cent, in 1938-59. The company last year incurred a consolidated loss of £400.156, compared with a profit of £368.775 for 1958-59. In an interim report, directors say sales for the latest half-year were higher than for the previous corresponding period. Reorganisation of the company is still proceeding. Kaßdos Cement.—Kandos Cecent, Ltd., has raised the dividend basis from 10 to 12$ per cent. Interim dividend is increased from 5 to 6$ per cent. Ten per cent, had been paid for 15 years, except for a rise to 12$ per cent, in 1955. The rate reverted to 10 per cent, in 1956 after a bonus capitalisation. The current increased rate is payable on capital raised by a one-for-five par issue last July. Directors reported last month a record half year’s sales. Australian Cement, Ltd., the Melbourne associate of the group, has similarly raised its iterim dividend from 5 to 6$ per cent. WOODSCREWS TO BE MADE IN NEW ZEALAND By arrangement with Guest. Keen and Nettlefolds Limited of Birmingham, England. AJAX GKN LIMITED of Seafield road. Lower Hutt, will produce Nettlefolds Woodscrews in New Zealand. For many years. Nettlefolds have by export, been the Principal suppliers to this Market, and the benefit of their technical experience and production methods will be available to AJAX GKN LIMITED to ensure that the same high standard of quality of product will be maintained when New Zealand made Woodscrews are available. Early in 1960, AJAX GKN LIMITED purchased Rolled Threads Limited of Nelson street. Auckland, and is at present operating that Company as a wholly owned subsidiary for the production of ferrous and non-ferrous Machine Screws. A new building, now in the course of construction at Favona road, Otahuhu. will house the new Screw Works which will combine the current production of Rolled Threads Limited, with the manufacture of Woodscrews, in a wel larranged plant of modern equipment. With the Screw Works in production, which is expected to commence towards the end of 1961. AJAX GKN LIMITED will in their two plants, be manufacturing a comprehensive range of Metal Fasteners, comprising Bolts and Nuts of Mild and High Tensile Steel. Machine Screws and Woodscrews.

Another interesting addition to the plant of AJAX GKN LIMITED in its Lower Hutt Works has been the recent installation of fully automatic Butt Hinge making equip* ment. —PBA