HEARDS PROFIT EASES
Depreciation And Tax Increased
(N.Z. Press Association) AUCKLAND, May 23. Net profit of Heards, Ltd, Auckland, confectionery manufacturer, eased by £5lB to £24.216 after higher depreciation in the year ending March 31.
Result was after providing £2BBB more for depreciation at £16.002. Taxation required £24,447 (£23.04!) last year). It represented an earning rate of 10.7 per cent, on average capita] compared with 13 per cent last year Steady dividend of 8 per cent, takes £17.972. This leaves carr.v-forward £ 6244 higher at £52 835 Shareholders’ funds rose £7662 to £303 913 on unchanged capital of £224.640 Net fixed assets are £9708 higher at £240.896 after deducting an unchanged mortgage of £B9OO. Investments rose £603 to £5691 Working capita] fell £2649 to £57.326
Current assets are £6724 higher at £l6o 987. They include debtors of £35.584 'down £16.490) and stocks of £128.193 (up £23,264). Current liabilities increased by £9373 to £106.661 Main change is in the bank overdraft which jumped £l2 856 to £42.250.
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Bibliographic details
Press, Volume CI, Issue 29830, 24 May 1962, Page 17
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165HEARDS PROFIT EASES Press, Volume CI, Issue 29830, 24 May 1962, Page 17
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