TRUSTEES EXEC.
Profit Up 11 p.c. Consolidated net profit of the Trustees Executors and Agency Company, of New Zealand, Ltd., rose £627 or 11.0 per cent., to £6345 in the year ended March 31. This result was reached after providing £2710 (up £B6) for depreciation and £6806 (up £1344) for taxation. It is also after paying £235 for tax under-provided last year (compared with £173 overprovision the previous year). Earnings from agency commissions, ren’. etc., rose £10.276 to £79.206. interest on trustee investments rose £2436 to £2479 and interest on other investments rose £1395 to £9301. Expenses were £11.149 to £71.410. Dividend Steady Dividend has been maintained at 8 per cent, on capital increased from £40,000 to £50,000. The dividend requirement is £4OOO (£2900 last year). The remainder of the profit is added to the carry-forward, bringing it to £21.543. Consolidated accounts show reserves, apart from unappropriated profits, unchanged. Shareholders’ funds rose £8203 to £99.998. Fixed asse's fell £267 to £73.337. Current liabilities rose £98,021 to £512,026, and current assets rose £50.053 to £464,528. Investments are £56,920 higher at £87,780.
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Bibliographic details
Press, Volume C, Issue 29516, 18 May 1961, Page 19
Word Count
180TRUSTEES EXEC. Press, Volume C, Issue 29516, 18 May 1961, Page 19
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