HENRY JONES CO-OP.

Press, Volume C, Issue 29695, 13 December 1961, Page 21

HENRY JONES CO-OP.

Profit Rises By £36,700 Henry Jones Co-operative, Ltd., Sydney jam-making and fruit preserving group, increased net . profit by £36,700 to £711.900 in the year to October 31. The previous year’s profit had moved up £36,700 to £675,200. Ordinary dividend remains at 10 per cent, and takes an unchanged £248.500. Of the profit, £319.600 (previously £345,400) was earned in Australia and £392.300 (£329,800) outside Australia. Result is reached after deducting outside shareholders’ interest £11,600 (last year £10,300). It is after tax £429.300 (up £40,600), depreciation £270,300 (down £31,500) and special depreciation on buildings in South Africa £BO.OOO (last year nil). Earning rate on capital moves up from 27.1 to 28.6 per cent. General reserves gain £260,600 (last year £286,500) Reserves Higher Reserves stand £523,200 higher at £8,088,700, with general reserve at £5,542,200. Net cash item, at £1,296,200, is £233,600 higher. Directors say they believe Commonwealth requirements will be fully safeguarded if Great Britain joins the European Common Market They say they do not share the doubts of some stockholders about the future of South Africa, and a considerable amount has been spent over the last two years on new buildings and plant for the South African subsidiaries.