TARANAKI BREWERY

Press, Volume C, Issue 29666, 9 November 1961, Page 23

TARANAKI BREWERY

Record Profit

(NX. Press Association) NEW PLYMOUTH, Nov. 8. Net profit of Taranaki Brewery, Ltd., rose £5441, or 33.1 per cent., to a record £24,888 in the year ended August 31. This result is reached after the provision of £30,000 (compared with £21.000) for taxation. Overprovision for tax last year was £230 (£93). Recommended dividend on the old shares, as announced earlier, is steady at 8J per cent The bonus shares issued in November, 1960, also qualify for this dividend, but the 380,669 5s shares allotted during the year rank for only half the dividend. Total dividend requirement is £12,027 and carry-forward is raised by £12,861. Gioss profit rose from £59,723 to £75.037. Norfolk Island Whaling.—The receivership of the Norfolk Island and Byron Bay Whalini Company, Ltd., New Zealanc subsidiary. Barrier Whaling Company. Ltd., was withdrawn on October 31. directors state. A New Zealand group may work the station on a profitsharing basis with an option to purchase the assets, they say. The Byron Bay station took 140 of its quota of 150 whales and Norfolk Island is permitted a quota of 170 for the season to October 31. Results of both these stations will be profitable, but the difficulties in New Zealand will affect the over-all result, they say. London Short-term Interest Rate,—The New Zealand Bankers' Association advises that the London short-term deposit interest rate has been reduced from 44 per cent, to 4 per cent. —(PA.) MHZ.TON AND HOWARTH Stock and Sharebrokers ERIC MILLTON R. BRUCE HOWARTH Members of the Christchurch Stock Exchange. Bank of New South Wales Building, 112 HEREFORD STREET. ■Phone 80-141. Box 2361. —Advt.