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BROTHER SEWING

Profit Halved Net profit of Brother Sewing Machine Corporation (N.Z). Ltd, fell more than half in the year to March 31, 1962. The latest result of £1695 is down £lBl6 or 517 per cent on last year's result. Profit was reached after provision of £9Bl (an increase of £619) for depreciation and £912 (down £2591) for taxation. The recommended final dividend of 21 per cent, on the increased capital takes £5OO. making a total of £l5OO compared with £2250 the previous year. Profit clears this by £195 and carry forward is raised to £1735. New Machine The main reason for the decline in profit was the market promotion of a new sewing machine, directors say’. ‘‘Sales since the beginning of April have been at a satisfactory level ” Shareholders’ funds rose from £11.540 to £21.735 as a result of a one-for-one share issue at par and the earning rate fell from 30.4 per cent, to 7.8 per cent. A current account credit last year with the Brother-Empisal Trading Organisation of £4601 has been replaced by a debit of £ 204 . u The Brother-Empisal Trading Organisation’s balance sheet shows share capital up from £14.500 to £25.650, of which the B.S.M. Corporation holds £20.000. . Loans and advances, a new item, total £6500 and current liabilities fell from £13.303 to £11.505. Fixed assets rose from £2455 to £7160 and current assets from £28,053 to £44,345.

Aust. Chemical Profit Down Australian Chemical Holdings, Ltd, coneoliidated net profit was almost halved in the year to June 30. Profit fell by £196.638 (48 per cent.) to £211,388. FinaJ dividend is cut from 6} to 214 per cent, reducing the full rate from 12'4 to 8% per cent. The lower dividend, payable on larger capital, will absorb £210,321. or £7933 more than the profit. The result is after tax £182,351 (down £71280) and depreciation £213,612 (up £44.964). The previous year’s profit had been virtually steady at £408,026 after a jump from £294.986 to £408.784 (up £113.798) in 1059-60. Padd capital rose from £1.835 061 to £2.430.765 in the latest year as a result of the takeover of Die Casters, Ltd

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/CHP19620919.2.195

Bibliographic details

Press, Volume CI, Issue 29931, 19 September 1962, Page 19

Word Count
353

BROTHER SEWING Press, Volume CI, Issue 29931, 19 September 1962, Page 19

BROTHER SEWING Press, Volume CI, Issue 29931, 19 September 1962, Page 19