Company News ROBERT HOLT

Press, Volume C, Issue 29635, 4 October 1961, Page 19

Company News ROBERT HOLT

15 p.c. Rise In Profit “The Prc«»” Special Serrtrt WELLINGTON, Oct. 3. Net profit of Robert Hplt and Sons, Ltd., for the year to June 30. 1961, was £60,730. against £44.220 the previous year, an increase of ...£B5lO, or 14.7 per cent. The result is reached after provision of £21.959 (£23.658) for depreciation and £51418 (£44.815) for tax. An interim and final dividend of 7 1 -j per cent, paid to shareholders of the private company on issued capital of £300,000 in May last takes £22.500 (£21.875). In accordance with the terms of :he public issue, all shares will participate in future dividends. Paid capital at balance date was £400,000. all ordinary Reserves amounted . to £402,703. including £83.681 in capital reserves. Shareholders’ funds were £802.703. Current assets £546.988, current liabilities £155,623. fixed assets £487,434, term liabilities £66,901, application money overpaid "on recent share money, less allotment money due £30.687. investments £21,492. Current assets including debtors* £211.107 and stock £333.423. Current liabilities included trade creditors £63.162. There was no bank overdraft. Since balance-date. the company has taken over Tawa Timber Company. Ltd Final terms of the merger were 11 5s shares in Robert Holt for three £ 1 shares in Tawa The deal , increased Robert Holt’s paid capital to £532.000. The board now proposes to increase nominal capital from £BOO.OOO to £1 million* J