SUGAR FIRM’S PROFIT UP

Press, Volume CII, Issue 30230, 7 September 1963, Page 16

SUGAR FIRM’S PROFIT UP

Spectacular Increase (N.Z. Press Assn.—Copyright) MELBOURNE, Sept. 6. Millaquin Sugar Company, Ltd., Queensland, reports a spectacular profit increase of £135,855 to £343,453 in the year to June 30. Directors also announced yesterday that they planned a one-for-three bonus issue of shares following a revaluation of fixed assets. Capita! Lift This will involve 600,000 10s shares and will lift paid capital to £1,200,000. Profit was reached after lifting tax provision from £95,153 to £230,000. Earning rate is 38.16 per cent, on present paid capital. Directors propose a final 7Mt per cent aind a bonus 7% per cent., making annual dividend a steady 20 per cent.

Merger Move By Huttons (N.Z. Press Assn.—Copyright) SYDNEY. September 6. Huttons Ltd., the Mel-bourne-based company with extensive New Zealand interests, is considering amalgamation with another meat producing and exporting company, Amagraze, Ltd., of Brisbane, if a mutually acceptable basis can be found Mr A. R. Archibald and Mr B. Hart, chairmen of Huttons and . Amagraze respectively, announced this late yesterday. The amalgamation would form one of Australia's largest meat groups, embracing grazing, killing, smallgoods, bacon curing. wholesale supply and exporting.

Burnett Holdings. Burnett Holdings, Ashburton cartage and general contractors and manufacturers, recommend an unchanged dividend of 7} per cent., payable September 28, ex dividend September 18.