I.C.I.A.N.Z. PROSPECTS

Press, Volume C, Issue 29444, 21 February 1961, Page 19

I.C.I.A.N.Z. PROSPECTS

fN.Z. Press Assn.—Copyright) MELBOURNE, Feb. 20. Imperial Chemical Industries of Australia and New Zealand, Ltd., despite rather difficult short term prospects, viewed the future with confidence, the chairman, Mr K. G. Begg, told shareholders at the annual meeting today. The company’s present construction programme was greater than at any other stage of its history, he said. Mr Begg said the company was intensifying its efforts to increase exports. In 1960 the value of 1.C.1. A.N.Z.'s exports was almost £1 million.

Boleproof Industries.—Holeproof Industries, Ltd., makers of hosiery, lingerie, and knitwear, earned consolidated net profit of £263.284 in the year to December 31. compared with £185,175 in the previous year. The profit excludes a £18,655 surplus on sale of fixed assets. All the ordinary shares are owned by Factors, Ltd., which acquired Holeproof last year in a shareexchange deal. Factors’ own balance date is July 31 and its interim report for the half-year to January 31 is due soon—(P.A.)

Humes Issue.—Humes. Ltd., concrete pipe manufacturer, will receive £328,746 from its placement of 120,090 £1 ordinary shares. The shares have been placed through lan Potter and Company, at 55s 6d a share, less 9d brokerage. (Current market price of Humes is 62s 6d.) The new funds will provide additional working capital in Australia for the Hume group of companies—(N.Z.P. A.)

G. J. Coles Issue.—G. J. Coles and Company, Ltd., will offer its new par issue of 5s ordinary shares to shareholders at March 10. The ratio is three for 10. Fractions will be disregarded. Directors state that transfers received after the books' closing date will not be accepted.