CONSOL BRICK PROFIT
3.4 p.c. Rise To Record Level
(N.Z. Press Association) AUCKLAND, Aug. 14.
Although turnover was down, group profit of Consolidated Brick and Pipe Investments. Ltd., Auckland, improved by £2877, or 3.4 per cent., to a record £86.426 in the year to June 30. Last year profit rose 37 per cent, to £83,549. Current trading conditions are buoyant with sales in nearly all departments to date running at record levels, the chairman (Mr T. E. Clark) says in the annual report. It is anticipated that these conditions will continue and that results for the current year will be satisfactory. Steady Growth Diversification and the introduction of new products will ensure steady growth and development, Mr Clark says. Earning rate on average funds has eased from 6.7 per cent, to 6.5 per cent, and that on average capital is down from 9.1 per cent, to 8.9 per cent. The result was at after setting aside £7309 more for depreciation at £78.771 and providing £13.945 less for taxation at £80,589.
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Bibliographic details
Press, Volume CII, Issue 30210, 15 August 1963, Page 24
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170CONSOL BRICK PROFIT Press, Volume CII, Issue 30210, 15 August 1963, Page 24
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