Company News WAITAKI F.F.

Press, Volume CII, Issue 30312, 12 December 1963, Page 29

Company News WAITAKI F.F.

Profit Up 27.7 p.c.

Net profit of Waitaki Farmers' Freezing Company, Ltd., Oamaru, rose 27.7 per cent from £102,021 to £130,275 in the year to October 31. This result is after £70,000 depreciation, against £65.000 last year, and unspecified taxation.

Dividend of 6Jd a 5s share takes £71,302. Last year's 6d dividend took £63,380.

A £lO.OOO transfer to general reserve takes it to £lOO,OOO. Carry-forward is £85,533.

Earning rate on shareholders’ funds of £1,239,635 is 10.5 per cent. Last year it was 10.7 per cent on £955,377.

The result represents 20.5 per cent on steady £633,798 capital compared w’ith 16.1 per cent last year. There are some big changes in the balance sheet. Current liabiliti-bs are £94,090 down at £539.875. This takes in creditors, including tax, down from £557.977 to £455.749. New Item

A new item this year is a £200.000 market fluctuations reserve. This was previously included in creditors and provision fr taxation and contingencies. Capital reserves are £25.285 higher at £120,304. Building reserve is unchanged at £lOO,OOO. Current assets are £358 higher at £350,498 with money at. call at £120,000, £lO.OOO down on last year, debtors at £77.407. against £66,143, and stocks £695 lower at £152,383. Investments are up from £353,188 to £483.508. Shares in listed companies are up from £280.744 to £455,430. Market value of shares in listed companies is £610,190. Fixed assets have been increased from £886.014 to £945.504 fall on 1957 valuai tion).