H. G. PALMER PROFIT UP
Earning Rate Improves Sydney electrical goods retailer H. G. Palmer (Consolidated). Ltd., increased net profit by £12.511 to £425,757 in the year to June 30. The profit had risen £111.752 for the previous year and £51,347 two years ago. Earning rate improves from 34.1 to 34.4 per cent, on ordinary capital, after allowing £83.000 for the 10 per cent, preference charge. The unchanged 12J per cent, ordinary dividend requires £124.260. The result is after tax £305.076 (up £15,110) and depreciation £151,241 (up £26,647). General Reserve General reserve again received £200,000 to make the fund £1.000.000. Total reserves and undistributed profits stand at £1.888.764. Liquidity has been maintained without drawing on a film standby arrangement or bank overdraft, directors’ preliminary report states. Collections are currently running in excess of film a month, they say. , Television has lost its boom effect and become a stable producer of turnover in the company’s wide range of merchandise.
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Press, Volume C, Issue 29638, 7 October 1961, Page 16
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158H. G. PALMER PROFIT UP Press, Volume C, Issue 29638, 7 October 1961, Page 16
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