Company News CLAUDE NEON PROFIT UP

Press, Volume CI, Issue 29984, 20 November 1962, Page 19

Company News CLAUDE NEON PROFIT UP

69.8 p.c. Rise To New Peak fN.Z. Press Association) AUCKLAND. November 19. Claude Neon Lights of New Zealand, Ltd., boosted net profit by £22.914 or 63 8 per cent, to a new peak of £55.765 In the year ended August 31. The earning rate on shareholders’ funds rose from 8.3 per cent to 12 7 per cent on funds of £446387 against £410,594. Result was reached after provision of £21,055 more for tax at £56,605. Depreciation rose £1229 to £13,672 and interest on mortgages totalled £4897 against £3329 last year.

As previously announced, the dividend has been raised from 8 per cent to 10 per cent, requiring £20,000 against £14,700. A one-tor-tour premium issue of 50,000 £1 ordinary shares will be made at a premium of 10s a share to shareholders as on November 30. This will lift paid capital to £250.000. Transfer To Reserve A transfer of £30,000 to general reserve raised this to £200,000. Last year the reserve was credited with £20.000. After writing-back surplus tax of £2B (£l4 last year), the earry-forward was lifted from £26,613 to £32,406 The balance-sheet shows fixed assets £BOl3 higher at £216,753. Term liabilities have risen from £67350 to £94.350. Current liabilities of £198,308' compared with £274.947 last year and include bank overdraft reduced by £120,214 to £29,603 and creditors higher by £15,847 at £63552. Rentals paid in advance total £36,748 against £33575.

Current assets fell by £22.359 during the year to £522292, stocks declining by £44538 to £393,055 and debtors rising from £106,938 to £129.105.

Bell Radio 5 p.c. Interim Div.

Bell Radio-Television Holdings, Ltd., Auckland, has declared an interim dividend of 5 per cent, payable on December 14, ex dividend on November 30. The company paid an annual dividend of 5 per cent, for the last year on September 10.