Aust. Portland Cement Profit
Australian Portland Cement. Ltd., showed a profit ot £760.134 for the year ended May 31. 1962. compared with £803.740 for the previous year. Depreciation amounted to £544,473 <£496.172), but tax. was down to £570.000 <£621.000) Dividends paid to the two holding companies. Australian Cement, Ltd., and Kandos Cement. Ltd., totalled £445.375 (£434.750). A total of £1.188.077 <£915,698) is carried forward.
The new Geelong plant is expected to begin operations before the end of the current financial year and. together with the new plant in operation at the Kandos works, this should mean that over-all efficiency will be greatly improved Capita) Up An increase in subscribed capital had been made with an issue of 1,500.000 £1 shares. Directors added that the basis of revaluation had been reviewed following the revaluation in 1956 Current assets jumped to £3,395.405 (£1.889.744) and there was also an increase in current liabilities to £1,845.736 (£1.780.954) Bank overdraft was repaid and the amount owing to trade creditors fell . to £479.042 (£ 509,734 V A note to the account shows that contracts for capital expenditure not provided for at May 31 amounted to £4.119,329
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Bibliographic details
Press, Volume CI, Issue 29908, 23 August 1962, Page 19
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189Aust. Portland Cement Profit Press, Volume CI, Issue 29908, 23 August 1962, Page 19
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