KIDD GARRETT PROFIT
Another Decline Shown
(N.Z. Press Association) AUCKLAND, June 9
With turn-over affected for the second successive year by the extension of the 1961 licensing year until June. 1962. Kidd Garret Holdings, Ltd.. Auckland engineering supplies merchant, suffered a fall in profit in the year to March 31. The net profit for the year dropped further by £5133, or 14 per cent, to £31.660, after declining by £14.885 in the previous year.
The result, which included minority interests of £3581 (£4145 last year). was reached after provision of £5987 less for tax at £31,440. Depreciation required £8271 against £8199. The earning rate on shareholders' funds, £5945 higher at £462,684, fell from 81 per cent to 6.8 per cent. The dividend of 6 per cent, took £22.500 on higher capital.
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Bibliographic details
Press, Volume CII, Issue 30153, 10 June 1963, Page 16
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131KIDD GARRETT PROFIT Press, Volume CII, Issue 30153, 10 June 1963, Page 16
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