J. YOCK PROFIT DOWN

Press, Volume CII, Issue 30234, 12 September 1963, Page 19

J. YOCK PROFIT DOWN

Dividend Steady 15 Per Cent fN.Z Press Association) AUCKLAND, Sept 11. The change in the import licensing year was responsible for a slight decline in consolidated net profit of J. Yock and Company, Ltd., Auckland wholesale merchant, in the year to June 30. Earnings, at £79,147, were £3480 (or 4.2 per cent) lower. Profit was struck after providing £741 more for depreciation at £14,975 and £3451 less for tax at £79.530. Earning rates on average funds 'fell from 23.6 per cent to 19.7 per cent, that on capital from 39.3 per cent to 37.6 per cent. The steady 15 per cent dividend takes £31,500. Increased Funds

Shareholders’ funds increased £47,581 to £425,141 including steady capital, all ordinary. of £210,000. Net fixed assets are £6098 higher at £159,552 after deduction of mortgages of £15.700-up at £95,100.

Investments rose £4343 to £17,577, mainly through an increase in shares in other companies, now at £15,464. Working capital increased £37,140 to £248,012. Stocks jumped £122,135 to £394,824, while debtors rose £45,313 to £259,042. These increases were financed by a £10,478 reduction in cash to £795, a £47,678 rise in overdraft to £81,843 and an increase of £74,592 in creditors to £224,276.

; C.A.C.A. Plans To Increase Capital (N.Z. fcress Assn.—Copyright) MELBOURNE, Sept. 11. ; Commercial and General Acceptance, Ltd., hire purchase associate of the Com1 mercial Banking Company of Sydney, Ltd., plans to increase authorised capital from £sm to £lom. This is shown in the company’s annual report to shareholders, issue to the Stock Exchange today. Shareholders will be asked to pass a resolution for the increase ait an extraordinary meeting cm September 24, immediately after the annual meeting. Director* say that the increase fc necessary, considering the company’s future capital requirements. Paid capi-tall will also be. £ 5 million soon, following, the one-for-four new issue ’ announced last June.