TARANAKI BR. PROFIT UP

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

TARANAKI BR. PROFIT UP

8 p.c. Rise To £26.874 Taranaki Brewery, Ltd., New Plymouth, lifted net profit by £1986. or 8 per cent., to £26,874 tor the year ended August 3. Latest result was obtained after providing £550 more tor taxation at £33500. and £405 more for depreciation

at £17378. It represents an earning rate of 9.2 per cent, on shareholders’ fiinds, which were increased by £53.153 to £291,116. Earning rate tor the previous year was 10.5 per cent.

The steady dividend of 3J per cent, takes £3547 more at £15574, on paid capital, which was lifted from £166,974 to £205.869. During the year, a call of 2s 6d a share was made on the contributing shares, which are now paid to 3s 9d. Balance Sheet The balance-sheet showed that fixed assets were £15,759 higher at £253,370, although term liabilities were down £9lOO to £113,100,

Bank overdraft of £19,427 shown in the previous year has been replaced by a cash balance of £12,659. Stocks rose £14.959 to £51,659. Debtors were higher at £27,506, while creditors fell slightly to £23,453.

Wilson Cement Interim.—Wilson N.Z. Portland Cement, Ltd., interim dividend is 31 per cent., payable December 6 ex dividend November 23. Last year's interim was 3} per cent, and total dividend for the year was 8 per cent.—(P.A.)