Company News JAS. SMITH YEAR
Steady Profit And Dividend (N.Z. Press Association) WELLINGTON, Nov. 12. The Wellington department store James Smith Ltd., which this year became a public company, today announced a tax-paid profit for the year ended July 19 of £63 703 This is an increase of £495. or 0.8 per cent on the 1961-62 result. As announced, ordinary dividend is unchanged at 9 per cent. Ait the annual meeting on November 27 it will be proposed that the company's nominal capital be increased from £375.000 to £600.000 by the creation of 900,000 additional shares of 5s each. This year's result was reached after providing £25,745 for depreciation (£21,437 Last yeart and £62,802 (£63.924) for taxation. Gross profit from trading, after record sales, was £54430’ (£523.495'. The 9 per cent dividend takes £33.750 (£32.000). Cairry-forward is £ 160.203 (£132.1581. The balance sheet shows fixed assets £26.130 up at £498,125. Investments in other companies are £3099 (down £soo', current assets £713,267 (up £47.852). shareholders’ funds £692,040 (up £ 29.288), term liabilities £218,875 (£186,875). and current liabilities £303,486 (up £12,194).
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Bibliographic details
Press, Volume CII, Issue 30287, 13 November 1963, Page 31
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177Company News JAS. SMITH YEAR Press, Volume CII, Issue 30287, 13 November 1963, Page 31
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