Company News FABERS YEAR
10 p. c. Rise In Profit (N.Z. Press Association) WELLINGTON, Dec. 13. Fabers Furnishing Company, Ltd. had a consolidated net profit of £10,551 for the year to December 30, 1961, a rise of £9BB, or 10J per cent., compared with £9563 last year. This was after tax of £10,467 (£9800) and depreciation £2BBO (£1741). The directors’ report states that’ trading results during the year were affected by the prevailing economic difficulties and in the circumstances must be considered satisfactory. The subsidiary. Players Furnishing Stores, traded at a profit. Steady Dividend Tiie steady 8 per cent, dividend takes £BOOO (£3600) and the 6 per cent redeemable preference shares £240 (£270)—1000 preference shares have been redeemed this year. The balance sheet shows capital at £103.500 (£49,000). Reserves total £31,362 £28,645) and suspended profits on hire purchase total £21,798 (£17,455). Other balance sheet figures: current assets, £242,600 £177.022), current liabilities, £110.363 (£66,936), fixed assets, £34,335 (£28,398).
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Bibliographic details
Press, Volume C, Issue 29696, 14 December 1961, Page 23
Word Count
157Company News FABERS YEAR Press, Volume C, Issue 29696, 14 December 1961, Page 23
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