Company 'News HENRYJONES MOVE

Press, Volume CII, Issue 30125, 8 May 1963, Page 19

Company 'News HENRYJONES MOVE

One-For-Six Issue (KZ. Press Assn.—Copyright) MELBOURNE, May 7. Henry Jones Co-operative, Ltd, big jean and fruit preserving group operating in Außtrdlia, New Zealand. South Africa and Britain, will raise £431,866 by a new issue to shareholders on the basis of one share for every six already held. The issue will be at par. The directors announced details of the issue in an interim report released tn the Melbourne Stock Exchange today. They said that a normal trade volume was maintained during the half year but general trading conditions in the industry resulted in lower profit margins. Less Profitable The directors expect these conditions to continue and believe that full results in the manufacturing sections will be much less profitable than in the previous year. A steady interim dividend of 2| per cent, equalling 6d a share will be paid on June 3. The new shares will be allotted after the interim dividend payment and will then rank equally with existing units. Selected employees of the company will be offered 17,500 of the new shares —this means that ordinary shareholders will receive 414,166 shares.

General Ind. Improves (N.Z. Press Assn.—Copyright) I SYDNEY, May 7. i General Industries, Ltd, should show a “significant (improvement” in group profit for the current year, the chairman (Mr J. B. Clarkson) said today. Sales of Metters’ products increased generally throughout the year, and the range of gas and electric stoves was expanded. Refrigerator sales were also higher than in the previous year. Turnover of the group increased by over 20 per cent, compared with 1961, and the company’s subsidiaries maintained or increased their respective shares of the market for the group’s main products. Group profit for the year, as previously announced, was £124,483, compared with a loss of £489,220 kn 1961. The company did not pay a dividend for the year to February 28. No dividend was paid in the previous year. Wilson And Horton Lifts Dividend (N.Z. Press Association) AUCKLAND, May 6. Wilson and Horton, Ltd, publisher of the "New Zealand Herald” and the “Weekly News,” proposes to lift its dividend rate from 6 per cent, to. 7 per cent, and also to pay a centenary bonus of 2 per cent The directors have recommended a final dividend of 4 pAr cent. The interim dividend of 3 per cent, was paid in December. Total payment in the previous year was 6 per cent, the public issue shares qualifying for one-third of this amount. C. and A. Odlin Move.—The C. and A. Odlin Timber Company, Ltd, advises that, with reference to the issue of registered unsecured convertible notes of 10s each, the directors have now allotted the full number of 251,874 notes. The notes are at present paid to ss. The second instalment of ss, to make these fully paid, is due on June 30— (N.Z.P.A.) Cox Brothers Buy. Cox Brothers (Aust.), Ltd, announces that the entire Melbourne and Sydney warehouse stock of Sargood Gardiner. Ltd, other than materials for manufacture, has been purchased for cash bv the Cox Brothers-Snows-Foy and Gibson group. —(N.Z.P.A.)