Bell Radio-Television Recovery In Earnings

Press, Volume C, Issue 29599, 23 August 1961, Page 19

Bell Radio-Television Recovery In Earnings

(New Zealand Press Association)

AUCKLAND, August 22. Bell Radio-Television Holdings, Ltd., Auckland, earned a consolidated net profit of £10,869 in the year ended March 31, against a loss of £9160 the previous year. Because of the previous loss, taxation takes only £2402. Depreciation was £3365 higher at £6557. In addition £l5OO has been written off intangible assets. Carry-forward is £6042 (debit of £4827 last year). The result represents an earning rate of 6.9 per cent, on average funds and of 7 per cent on average capital Dividend is again passed. Sales-showed a substantial improvement on the previous year, but there was again a year of uncertainty in television, the chairman- (Mr A. Bell) says in the annual report Govt Statements Recent Government policy statements about television in the four main centres have now created a demand for receivers which had been constantly awaited for 12 months, Mr Bell says. The acquisition during the year of Machinery Maintenance, Ltd., will not only strengthen the manufacturing companies’ supply position

but also open up. other sales potential, he adds. The balance-sheet shows shareholders* funds £22,869 higher at £168,447 on capital increased by the £12.000 issue for Machinery Maintenance to £162.000. Net fixed assets are £21.169 up at £38,278 after deduction of a new mortgage of £5306. Working capital rose £l6lO to £92.521. Current liabilities, £3623 higher at £220.348, include debtors at £82,755 (up £12.801) and stocks of £136,067 (down £9868). Current liabilities rose £2013 to £127,827 and Include overdraft. £12366 higher at £48,570, and creditors reduced by £14,699 to £74,434.