Company News DOM. FERT. YEAR

Press, Volume CII, Issue 30154, 11 June 1963, Page 17

Company News DOM. FERT. YEAR

8 p.c. Rise In Profit

The net profit of Dominion Fertiliser Company, Ltd., Dunedin, rose £4125 or 7.8 per cent, to £56,948 in the year ended March 31. This result was reached after provision of £39.124 (up £5782) for depreciation and £56,948 (down £7063) for taxation. As announced earlier, the annual dividend is 10 per cent. This requires £55,000 on higher capital, compared with £63,146 oaid last year. The carry-forward is raised from £49,708 to £52,575.

The directors report that the job of integrating Bumside and Ravensbourne could not be done quickly if hardship to the staff was to be avoided. “Since early this year, all manufacturing has been concentrated at Ravensbourne, while Bumside is being developed into a mixing and delivery point—two moves which are already showing substantial savings in costs.’’

Paid capital rose from £360,839 to £550,000 by the issue of 189,161 B 'shares to Kempthorne Prosser and Company's N.Z. Drug Company, Ltd., in consideration for the sale of the Burnside property Fixed assets rose £216.642 to £581,254, and investments rose £3648 to £105,496. Shareholders’ funds are £202,553 higher at £1,023,100.

Current liabilties are £29,119 lower at £135,484 and are covered nearly 3 l k times by current assets of £471.834 (down £46,856). Cash fell £153.092 to £150.196, but stocks rose £77,985 to £172.484,