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 A current account credit last year with the Brother-Empisal Trading Organisation of £4601 has been replaced by a debit of £ 204 .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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Bibliographic details
Press, Volume CI, Issue 29931, 19 September 1962, Page 19
Word Count
353BROTHER SEWING Press, Volume CI, Issue 29931, 19 September 1962, Page 19
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