GEAR PROFIT DROPS

Press, Volume CI, Issue 29724, 18 January 1962, Page 17

GEAR PROFIT DROPS

52 p.c. Down On Year Before (N.Z. Press Association) WELLINGTON, Jan. 17. Net profit of the Gear Meat Company, Ltd., Wellington, for the year to October 28. 1981, was £30,694, against £64,426 the previous year. The 10 per cent, dividend on increased capital of a two-for-5 bonus issue and a one-for-5 par issue takes £35,420, compared with the 12(4 per cent, dividend on smaller capital amounting to £28,750 the previous year. The balance-sheet shows capital increased to £386.400 by the two issues from £230,000 in 1960. Shareholders’ funds total £1,083,788 (£1,024.114). Other balance-sheet figures are:—

Current assets. £760,824 (£612.132); current liabilities. £643.067 (£535,982); fixed assets, £887,274 (£867,520); investments, £113,757 (£115,424).

Timor Oil Ltd. To Relocate Bore Timor Oil. Ltd., will relocate its Matai No. 4 bore. Directors say the decision was based on information derived from the bore. Information on conditions encountered and geological information obtained also led to the decision. The hole is being relocated across a transverse fault in the same locality. Custom Credit Dividend.— Custom Credit Corporation, Ltd., hire purchase financier, Sydney, will pay an unchanged interim ordinary dividend of 7| per cent, on January 30. ex dividend on January 17. Total payment last year was reduced from 17J per cent, to 15 per cent, on higher capital.