Company News I. WATKINS SALES
Net Profit Up 4.2 p.c. (N Z Press Association) AUCKIAND. August 8 After increasing groun sales by £89.939 to £879 913 Ivon Watkins Ltd., New Plymouth manufacturer of agricultural chemicals, lifted consolidated net profit by £1207 or 4.2 per cent., to £28.795 in the year to March 31 Profit was struck after providing £2291 more for depreciation at £18.354 and £990 more for taxation at £29.255 Earning rate on average funds eased from 10 4 per cent, to 9 8 per cent., but that on average capital rose from 15 6 per cent, to 16 per cent. The steady 10 per cent dividend takes £ 18.021 against £17.675 last year. Balance Sheet The balance-sheet shows shareholders’ funds £37.166 higher at £311.323. However this includes an amount of £27.701 (£1547 last year! held pending allotment of shares. Paid capital, all . ordinary, rose £3590 to £181.766 Net fixed assets are £20.158 lower at £178,937 after deducting £9600 more for mortgages at £56.400. Working capital improved £53.472 to £100.300 Main movements were a £9318 increase in stocks to £188219 and a £2438 reduction of debtors to £90.867 Overdraft is £15.582 higher at £62.991 but creditors were reduced by £62,154 to £68,456.
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Bibliographic details
Press, Volume CI, Issue 29894, 7 August 1962, Page 19
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202Company News I. WATKINS SALES Press, Volume CI, Issue 29894, 7 August 1962, Page 19
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