QUILL MORRIS PROFIT EASES

Press, Volume CI, Issue 29844, 9 June 1962, Page 16

QUILL MORRIS PROFIT EASES

Consolidated net profit of Quill, Morris. Ltd.. Christchurch, wine and spirit merchant and manufacturer of cordials, was £19,155 in the year ended March 31, 1962. This shows a drop of £4152 on the £23,307 earned in the 14 months of the 1960-61 accounting period. On an annual basis, the drop is 4.1 per cent. The latest result is reached after provision of £3586 (up £889) for depreciation and £17,663 (down £1409) for taxation. It represents an earning rate of 10.98 per cent, on higher shareholders' funds, compared with 11.81 per cent, ton an annual basis) the previous year.

Recommended dividend, as previously announced, is 124 per cent, for the year,- com-

C.A.C. Acquisition. The Colonia! Ammunition Comoanv. Ltd., Auckland, a partly-owned ■subsidiary of the Factors, Ltd.. Melbourne group, has purchased the total shareholding of W. H. Bond and Company, Ltd., Auckland. Established in 1923. W. H. Bond manufactures canisters. steel drums and kitchenware and also carries on the business of metal printers. —(P.A.)

pared with 15 per cent, for the previous 14 months, and 1 requires £12.500 (£15.000 last year). Transfer to general reserve is unchanged at £5OOO and carry-forward is raised to £16,694. Limitations

“In spite of severe trading limitations imposed by import controls, and the more stringent economic condiditions as a result of bank restrictions on credit, the company has returned a satisfactory profit, comparable with that of the previous trading period on an annual basis, after allowing for the increased costs of depreciation," says the chairman of directors (Mr F. S. Taylor). Trading returns totalled £50,368, compared with £55,319 in the previous 14 months. On an annual basis, the latter figure shows a rise of 6.2 per cent. Income from investments rose from £5146 to £5201. The consolidated balance sheet shows current liabilities £17,221 lower at £77.008 Shareholders’ funds rose from £169,231 to £174.386, of which paid capital is

£lOOOOO (unchanged) in 10s shares.

Current assets fell £17,361 to £84332. mainly because of lower stocks (down £16,221 at £20.183). Fixed assets are £2821 higher at £70,703. The company has an unsecured liability of £2OOO (unchanged) and investments of £98.359 (up £2474).

Taupo Totara Dlr.—Directors of Taupo Totara Timber Company. Ltd., report another recard year. Final dividend is 4d a share, making 7d for the year; payable August 1, ex dividend July 19. (P.A.)

North Shore Tramport.—Although the North Shore Transport Company. Ltd.. *K»> n passed the dividend during the year ended March 31. the accumulated loss of £18.357 brought down from 1941 wa* wiped out and replaced by « credit balance of £343. The company earned a net profit of £19649 during the year, an increase of £17.233 from the 1961 result In 1960 a net loss of £21.314 was incurred in trading and a further loss of £12.677 resulted from the sale of shares in subsidiaries.—tP.A.)