DONAGHYS ROPE
Record Profit Earned tb.Z Press Ataociationt DUNEIMN. June 6. Donaghy’s Rope and Twine Company, Ltd.. Dunedin, in. creased net profit by £13,44fl <32.5 per cent.) to a record £73,180 in the year to March 31. The previous year profit rose £6510. Profit was reached after providing £2OOO more for depreciation at £32,000 and £10,500 more for tax at £ 82 500 With a transfer of £25,000 to the general reserve and dividends equivalent to a total 10 per eent. taking
£50,000, the total of unappropriated profits is down by £lB2O to £70.343.
With the adjustments through the Increase in issued capital from £375,000 to £5OO 000 and the additional £25,000 in the general reserve (how £150,000), total shareholderg’ funds stand £42.045 higher at £793,176. The earning rate on these funds was 9.23 per cent, comoared with 7.5 per cent, in 1961. Total fixed asset* stand at £331.775 against £318.819 last year. Stocks fell during the year from £438,023 to £398.689. Debtors were steady at £87,595. Cash at bank, with the Increased cap. ital, was up from £54,279 to £115,635.
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Bibliographic details
Press, Volume CI, Issue 29842, 7 June 1962, Page 17
Word Count
180DONAGHYS ROPE Press, Volume CI, Issue 29842, 7 June 1962, Page 17
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