BR. OFFICE SUPPLIES

Press, Volume C, Issue 29540, 15 June 1961, Page 19

BR. OFFICE SUPPLIES

Record Profit For Year BrftiM* Office Supplies Ltd, Wellington, made a consolidated net profit of £24.553 for the year to March 31— a rise of £4OOl or 19.4 per cent on the last result before incorporation. i The cMsanisation itm ta- . corporatad as a public coml party in September last year. I The result is reached after I wwldinff £1063 for depreciation and £24,562 for taxal Hoc. Half of the profit has been . capitalised by writing off i establishment expenses and goodwill. Dividend Rise 1 A dividend of 4 per cent. 1 for the first six months of incorporation takes £7OOO r leaving £5276 to be carried 1 forward. Directors announce - that an interim dividend will s be paid in future at the rate of 3 per cent, per annum and 5 *foe first can' be expected in 1 December. 1 The directors’ report states s that the company, including the subsidiary companies as to the earlier months, had en- . joyed a year of buoyant * trading with overall sales in excess' of forecasts. Paid-up capital is £175.000 ' and current liabilities 5 £47,099, compared with cur- ' rent assets of £147.772. Total ' fixed assets are £48.390. and ! goodwill and eotabiishmont expenses £38.213.