British Tobacco Now In N.G.

Press, Volume CII, Issue 30156, 13 June 1963, Page 17

British Tobacco Now In N.G.

British Tobacco Company (Australia), Ltd., through its subsidiary W. D. amd H. O. Wills (Aust.), Ltd., has formed a new company in New Guinea.

The company, W.D. and HO. Wills (T.P.N.G.), Ltd., will make Players’ Gold Leaf king-size filter-tip cigarettes for distribution to the Territory’s “indigenous population."

Initial capital investment will be about £150,000 Production will begin in July at a new air-conditioned factory at Madang. The machinery being installed will be capable of producing 240 million cigarettes a year.

N.Z. Woolpack Anti Textiles Profiit

New Zealand Woolpack and Textiles, Ltd., Foxtqn, increased consolidated net profit by £2248 to £27,386 in the year to December 31. The profit was reached after providing £643 less for depreciation at £25,185, and £15,400 more for tax at £41.600. Net manufacturing and trading profit rose from £88.909 to £102,713. Business Personal Mr S. K. Brook, previously A.N.Z. Bank head office manager, London, has become chief manager. Mr L. R. H. Macro has become deputy chief manager and head office accountant. Mr R. J. Sutton and Mr C. H. Bennett have been appointed London managers. Mr Sutton was previously deputy London manager. and Mr Bennett assistant London manager. Overdrafts Down.—Advances and discounts by the New Zealand trading banks totalled £ 199.9 m on May 22, according to preliminary figures issued by the Reserve Bank. This figure shows a drop of £43m in a month and is £l.7m below the comparable 1962 figure.

Northern Steel. Northern Steel Supplies recommended final dividend is 3 per cent., making 8 per cent, for the year, against the 10 per cent. last year. Payable July 4. ex dividend June 24.—(P.A.)

Equitable Building.—Equitable Building recommended final dividend is 5J per cent., making 10 per cent, unchanged for the year; ex dividend Junfe 20. Annual meeting is scheduled for June 26.—(P.A.)

Queensland Insurance.— Queensland Insurance Company, Ltd., interim dividend is a steady Is 3d; payable June 26. Last year’s total dividend was 2s 6d.—(P.A.)

Meat Packers.—An interim dividend of 2 per cent, for the three months to June 30 is payable on June 27, ex June 21.